Context Relevant Announces $21 Million in Series B Funding, Led by Formation 8
SEATTLE, May 20, 2014-- Context Relevant, the world’s fastest automated predictive analytics software for Big Data 2.0 applications, today announced it has raised $21 Million in Series B funding led by San Francisco-based Formation 8. Existing investors Madrona Venture Group, Bloomberg Beta, Vulcan Capital, and several prominent Seattle-area angels also joined in the round, as well as one of the largest banks and one of the largest insurance companies in the United States. The Series B brings total funding to-date for Context Relevant to $28 million.
Seattle-based Context Relevant has developed the world’s fastest automated predictive analytics software. Led by CEO Stephen Purpura, the company is defining the next generation of financial information capabilities by applying big data to solve the toughest problems in the financial sector.
“There’s been quite a bit of noise and hype around data analytics. Too many companies provide tools that don’t address mission critical issues for businesses. Context Relevant’s products address real customer pain points and solve big problems,” said Jim Kim, Founder and Managing Partner, Formation 8. “The team at Context Relevant is at the leading edge of productizing data science for the world’s premier financial organizations, with many adjacent markets still to come.”
Context Relevant has already achieved an impressive client roster of Wall Street’s largest financial institutions, as well as leading insurance providers. Additionally, Context Relevant joined forces with Good Harbor Risk Management, led by former White House cyber security expert Richard Clarke, to help large enterprises protect their data and prevent security breaches.
“The growth of data is overwhelming for the world’s leading organizations and oftentimes difficult for even the most seasoned data scientist to manage. We are helping companies sort through their data and get meaningful outcomes in a short period of time, and these companies are seeing extraordinary value,” said Stephen Purpura, CEO of Context Relevant. “Our investment partners understand the proven effectiveness of Context Relevant’s software and realize its game-changing potential. We couldn’t be more excited about the tremendous opportunities ahead for our customers and our team.”
About Context Relevant
Context Relevant delivers predictive analytics apps based on models that can predict changes in your operations, your customers, your product pricing and even what your IT systems are about to do. To find answers from your data faster, easier, and more cost effectively than ever before, email us at BigData@contextrelevant.com, call us at 800-980-DATA, or visit us online at contextrelevant.com.
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