NGDATA Raises $3.3 Million to Strengthen Big Data Market Share
Company Adds New Board Members to Execute on Strategic Vision and Fuel Global Expansion
SAN FRANCISCO, Septembr 24, 2013-- NGDATA™, the customer intelligence management solutions company, today announced that it has closed a $3.3 million investment round led by Capricorn Venture Partners with participation from existing investors, including Sniper Investments, and angel investors. As part of the deal, NGDATA announced the addition of three new board members and three members of the NGDATA Advisory Board to help guide the company’s strategy to further growth and expansion.
This investment validates NGDATA’s significant market momentum. Over the past 12 months, NGDATA has expanded its global presence, opened multiple offices throughout the United States, and executed a number of strategic partnerships with companies such as Clear2Pay and Cloudera, where NGDATA developed and delivered sophisticated indexing capabilities to Cloudera Search.
“We’re seeing a shift in the Big Data market, where companies are looking for better ways to capture and analyze data in ways that help them solve real business problems,” said Katrin Geyskens, Partner at Capricorn Venture Partners. “NGDATA brings a unique and effective offering in its Big Data solutions, providing companies with the ability to gain deeper insights into their data—and its growing customer base and revenue streams are a testament to this. We’re thrilled to join NGDATA’s team as the company moves into its next phase of growth and expansion in the U.S.”
The company has gained significant traction in key industries such as financial services, telecom and media/publishing, and grew its customer base with leading global companies, including De Persgroep, France Telecom, KBC, Orange and Telenet. In addition to customer and partner activity, NGDATA’s dedication to product innovation was the driving force behind the launches of Lily 2.0 and Lily 2.4, and the acquisition of ENQIO—a move that provided the company with an experienced team of data scientists.
“Over the past year, we’ve seen an uptick in interest from banks, media companies and telcos looking to significantly improve their customers’ experiences using the vast quantities of online, mobile and operational data at their fingertips,” said Luc Burgelman, CEO of NGDATA. “This round of funding provides the resources needed to accelerate adoption of Lily as the backbone of a comprehensive Big Data solution.”
This latest investment will be used to advance the development of the company’s customer intelligence solution, Lily, and build upon NGDATA’s record revenue growth. Furthermore, the addition of three board members will bring deeper industry and business knowledge, networks and experience to NGDATA:
•William J. Pade - personal investor and partner at Oak Hill Capital Partners, responsible for originating, structuring and managing investments in the company’s technology group;
•Michael Patsalos-Fox - former senior partner for McKinsey & Company, where he served on the firm’s Operating Committee and elected board for several years;
•Katrin Geyskens – Partner at Capricorn Venture Partners where she looks after ICT investments in the Digital Healthcare and Big Data areas.
The newly formed NGDATA Advisory Board now includes three strategic members with experience in Big Data, product and business strategy who will advise the company:
•Guy Weyns - managing director at Paradigm Capital Investments;
•Jean Francois Van Kerckhove - vice president of mergers, acquisitions and business development at eBay;
•Doug Cutting - chief architect at Cloudera and founder of Hadoop.
NGDATATM is the Customer Intelligence Management Solutions Company that enables enterprises to radically improve the effectiveness of their marketing campaigns, increase up-sell and reduce churn. The company delivers Lily Enterprise, which continuously listens to customer interactions across all channels, learns from customer's behavior and responds to these events with highly targeted product offers and content. Lily is a unique combination of interactive Big Data Management, Machine Learning, Real-time Behavioral Scoring and Segmentation capabilities in a single integrated solution. Headquartered in Gent, Belgium with offices in New York and San Francisco, NGDATA provides solutions to data-driven sectors such as financial services, retail, telco and media/publishing. Customers include: AXA, France Telecom, KBC, Orange, De Persgroep and Telenet, among many others.
Please visit www.ngdata.com for more information or follow on Twitter @ngdata_com or connect with the company on LinkedIn.
Molly Galetto, 617-930-2668
Whitney Parker, 617-986-5011
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