NEWS30 March 2012

Predictive analytics firm InsightsOne gets $4.3m funding

Financials North America

US— Cloud-based predictive analytics firm InsightsOne has closed a $4.3m series A round of funding led by venture capitalists Norwest Venture Partners.

The company will use the cash to grow its executive team and invest in its sales, marketing and product development. CEO and founder Waqar Hasan (pictured) said: “This round of funding validates our vision to enable mid-to-large B2C companies to leverage the power of big data at a low cost and exploit the power of cloud-based predictive analytics to increase profits…We’re looking forward to working with NVP as we invest further in our team and products and take our company to the next level.”

NVP’s managing director Promod Haque will join the InsightsOne board as a result of the deal. He said: “InsightsOne is already delivering solutions to a number of Fortune-500 companies and increasing their profits by more than 20%. That is rare at this stage of a company’s growth, and we believe InsightsOne has an enormous opportunity ahead as this layer of the big data stack is still a hugely untapped market.”

Other investors that took part in the funding were Gaurav Garg (private investor and special limited partner at Sequoia Capital) Zod Nazem (former CTO of Yahoo!) and Peter Wagner (founder/partner at Alpha Venturi).