Forecasting Software Provider Completes Series A Financing Led by PointGuard Ventures
June 30, 2015 (COLUMBUS, Ohio) – Prevedére, a leading big data predictive analytics solution, today announced that it has closed a $6.7 million Series A led by PointGuard Ventures. The investment in Prevedére will be used to accelerate go-to-market strategies and product development. Since its founding 2012, Prevedére has seen rapid expansion of its customer base, with 266% year-over-year growth.
Prevedére’s patent-pending software helps companies increase profits and outperform competition by identifying and leveraging external economic performance drivers. Ultimately, Prevedére enables its customers to improve forecast accuracy, make better decisions on inventory and working capital, and identify new global growth opportunities. Prevedére’s Economic Intelligence™ software is used by customers across all industries, leading private equity and financial investment firms.
“External factors have a significant impact on the performance of most companies,” said Rich Wagner, founder and CEO of Prevedére. “Our software was developed to fill the gap between costly information data providers and internally focused business intelligence by putting millions of external leading indicators at our customers’ fingertips.”
Prevedére integrates easily within companies’ existing enterprise financial planning and analysis (FP&A) systems to provide externally-driven, fact-based answers to the “why” and “when” of an enterprise’s performance. For example, Prevedére empowers chief financial officers to respond to challenging questions surrounding price adjustments, performance fluctuations and market forecasts.
“Prevedére provides a very easy to use analytics solution that enables management to identify and forecast external economic factors impacting their business. Customers have dramatic success improving the top line and bottom line by taking early action to mitigate negative elements and to benefit from the positive elements identified by the Prevedére solution,” said Pete Thomas, managing director of PointGuard Ventures. “We’re convinced any enterprise, especially publicly traded companies, will want to use this software to improve their business forecasting and management.”
With Prevedére’s advanced statistics, pattern matching and predictive analytics, companies can make better operational and strategic decisions to improve bottom line results immediately. Enterprise, small and mid-sized businesses can all leverage this intelligence without a multi-million dollar investment or months of implementation time.
Since receiving first funding and startup guidance from Rev1 Ventures (formerly known as TechColumbus), Prevedére has been named a “Cool Vendor in Information Innovation” by Gartner and one of IDG Research’s “5 Startups to Watch.” Prevedére also recently won Best in Show at the Plug & Play Expo and was recognized by Innovation Enterprise as the FP&A Innovation Awards winner in Forecasting and Planning.
Prevedére’s award-winning predictive analytics software allows companies to look beyond their own walls for key external drivers of financial performance. Our software collects and analyzes millions of global metrics in real time, including macroeconomic factors, manufacturing activity, consumer behavior, online traffic and weather data. Prevedére’s customers see improved financial performance with more accurate forecasts of future demand for their products and services. Prevedére’s software quickly and easily integrates with any financial planning platform to ensure companies are looking at the right factors that drive business. To learn more visit prevederesoftware.com and follow @Prevedere on Twitter.
About PointGuard Ventures
PointGuard Ventures, founded by Krish Panu and Pete Thomas, both Silicon Valley venture capitalist veterans with 35 years of venture and operating experience, invests in dynamic new technology companies to create new market opportunities or to solve problems in existing markets more cost effectively. Their venture experience spans over 50 startups, 12 IPOs, and many successful M&A transactions. PointGuard’s new fund will invest in software, networking, and hardware to provide “technology convergence” solutions to many of today’s markets including Mobile Commerce, Cloud Computing, Greentech, Point-of-Care medical, Education, and applied Data Analytics. PointGuard’s fund strategy is to invest in a mix of companies in need of Series A & B funding, and in select later stage investments that are based in the U.S. with the potential for early global market entry.