GridGlo Secures $1.1M to Expand its Groundbreaking Data Fusion Platform; Rebrands as TROVE Predictive Data Science
DELRAY BEACH, Fla., August 26, 2013-- GridGlo, a leader in data-powered predictive science, announces that it has raised $1.1M in new capital and has rebranded under the name TROVE Predictive Data Science.
TROVE fuses an organization’s existing internal data with valuable external data sources and applies its state-of-the-art predictive science to help customers uncover new opportunities to monetize data and drive innovation. The capital infusion comes from new strategic investors as well as existing investor and TROVE partner CUBRC, Inc., a research organization with deep data fusion expertise initially developed for the U.S. Department of Defense and other U.S. government agencies. The funding will be used to develop new applications for TROVE’s platform. Today, TROVE’s predictive science platform is helping utility companies optimize programs, identify fraud, forecast demand, and segment customers.
“Over the past three years we have continually refined our technology to meet the big data challenges faced by utility managers as they seek innovative ways to extract business and operational value from the smart grid,” said Isaias Sudit, founder and CEO of TROVE Predictive Data Science. “As TROVE has evolved, we have discovered many new ways that predictive data science can identify insights that drive value for our customers across many market segments. In fact our experience shows that the ability to transform data into actionable, results-driven insights is the single most important key to achieving business transformation in the coming years.”
The rebranding from GridGlo to TROVE was driven by the need for a name that was more reflective of the value the company brings to its customers. “After considering numerous alternatives, we settled on TROVE as a name that immediately connotes a collection of valuable resources,” commented Sudit.
Tom McMahon President and CEO of CUBRC noted, “TROVE’s technology platform is state-of-the-art, leveraging decades of research and development in multi-source data fusion. Combining expertise in statistics, engineering, computer science, data fusion and other highly specialized disciplines, TROVE can accurately and repeatedly help customers predict future behaviors and capitalize on emerging trends.”
About TROVE Predictive Data Science
TROVE delivers analytical solutions and data-driven insights to its customers. The company’s multi-source data fusion technology combines internal customer data with over 2,000 attributes of external third-party data. TROVE’s TFX Platform processes massive volumes of data, including structured, semi-structured, and unstructured data, as well as high-velocity streaming data. Its data scientists develop proprietary algorithms to observe data behavior and identify insights, providing value to customers through web interface tools. TROVE’s core analytical capabilities provide applications for program optimization, fraud identification, demand forecasting, and customer segmentation. The company was founded in 2010 and is headquartered in Delray Beach, FL.
for TROVE Predictive Data Science
Sarah Mees, 978-409-2519
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