New Jersey business analytics firm Axtria bags $4.8M in funding

By VCPOST Staff Reporter

Jan 10, 2014 01:32 AM EST

Axtria bagged $4.8 million in funding today. The New Jersey company creates analytics tools for businesses, according to VentureBeat.

Nowadays, companies rely on data to better understand their customers. They look for ideas on how to get more revenue, what their customers' preferences are, and methods of designing programs that trigger clients to spend their money.

Axtria creates analytics tools for marketing, sales, and customer management data. The tools help businesses analyze their existing customers to find out how expand their client base and keep the ones they have, the report explained.

The firm said that it focuses on helping its customers make decisions based on data gathered. Using Axtria, a company can pinpoint groups of clients that have characteristics that generate long-term profit. The company then creates loyalty programs based on data and categorize their customers according to lifetime value, revenue per customers, share of wallet, and others, the report detailed.

The latest funding comes from Richard Braddock from the Aspen Institute and Amarpreet Sawhney. The firm is currently based in Berkeley Heights, New Jersey, VentureBeat reported.

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