Predictive analytics provider closes on funding

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Prevedere, a cloud-based predictive analytics provider, has closed $10 million in Series B funding led by Norwest Venture Partners with participation from Microsoft Ventures and existing investors PointGuard Ventures and Rev1 Ventures.

The company previously raised $6.7 million in Series A financing. It will use the new round of funding to accelerate market adoption.

“Predictive analytics is one of the fastest growing software markets,” said Promod Haque, senior managing partner, Norwest Venture Partners. “Unfortunately, enterprises that invest billions of dollars in analytics still struggle to gain actionable insights. Prevedere's combination of global data, artificial intelligence-led predictive analytics and an intuitive cloud application is geared directly to the business user, resulting in immediate value.”