Predixion Software, a developer of cloud-based predictive analytics (PA) software, announced that Software AG will lead the company’s series D funding round. This round of funding, which includes participation from existing financial and strategic investors, including GE Software Ventures, will support Predixion’s move into the Internet of Things (IoT) analytics market.
This fourth funding round, expected to close in 60-90 days, focuses on resources to develop Predixion’s advanced analytics for IoT use cases in manufacturing, energy & utilities, transportation, healthcare and retail sectors. According to industry estimates, the IoT market is estimated to grow from $1.7 trillion in 2015 to $3 trillion in 2020 with a compound annual growth rate (CAGR) of 13%. Revenues from IoT analytics, estimated to be $5.7 billion by the end of this year, is anticipated to grow even faster, at a 5-year CAGR of 30%.
Predixion specializes in what it calls the “last mile of analytics"— to get the power of predictive insights to the front lines where decisions are made. The company’s patent-pending Machine Learning Semantic Model (MLSM) enables analytics to be embedded into a variety of production environments including existing applications, databases, real-time streaming engines and even directly on to connected or disconnected devices.
For more information, visit www.predixionsoftware.com.