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Venture Capital News: Context Relevant Closes $7M in Series A

2013-07-16
SEATTLE, WA, First predictive analytics application with automated machine learning for data-driven CEOs, CMOs and their analyst teams, closed a $7M Series A round.
Context Relevant, the first predictive analytics application with automated machine learning for data-driven CEOs, CMOs and their analyst teams, closed a $7M Series A round from Madrona Venture Group, Vulcan Capital, Bloomberg Beta, Geoff Entress, and other private investors. Context Relevant will use the investment to accelerate hiring as the company ships real-time behavioral analytics solutions for finance, web personalization and online travel.

'Traditional analytic approaches are too retrospective and cumbersome to deliver the timely recommendations business leaders deserve,' said Stephen Purpura, Context Relevant co-founder and CEO. 'Our distributed statistical analysis and execution engine produces price, value and segment recommendations dramatically faster than current methods.'

Using the performance-focused innovations in its scale-out, in-memory architecture, Context Relevant intelligently processes the customer's data to automatically generate and refine analyses, forecasts and actionable recommendations in near real-time. Context Relevant connects to and analyzes multiple data sources, including: HDFS, SQL, web logs, Customer Relationship Management (CRM) systems, market data and Social Media posts. Context Relevant also integrates with existing Hadoop deployments to span server farms, utilizing available memory and processing while simplifying interoperability between the analytic layer and the underlying storage.

'Today's machine learning tools place terrific analytic power in the hands of deeply trained practitioners' said Michael Cafarella, Hadoop co-founder and Professor of Computer Science and Engineering at the University of Michigan. 'The science behind Context Relevant's application delivers significant advancements for obtaining faster and more automated analytic insight, an outcome often impeded by the cost and complexity of current approaches.'

Context Relevant raises the bar on ease of use by embedding data science expertise by including advanced behavioral analytic libraries. Behavioral analytics surpasses trend analysis to learn from co-occurring group and individual behaviors influencing outcomes. Context Relevant's application examines trillions of interactions in real-time, determines their interrelationships and recommends action. The first set of behavioral libraries offers real-time enhancements for: financial analytics, pricing and valuation recommendations; web personalization and online travel optimization. Similar capabilities are typically custom-developed internally or by consultants at substantial time and expense.

'With total data stored doubling every two years, companies must build leading positions by knowing and acting on their data better than competitors,' said Tim Porter, Managing Director, Madrona Venture Group. 'Context Relevant delivers this ability with a high-performance machine learning application developed by a world-class team of machine learning professionals, distributed computing engineers and business leaders, helping customers to optimize business practices, customer relationships and unveil hidden opportunities.'

About Context Relevant - Know your data!

Context Relevant believes in the value of predictive analytics and commits to place it in the hands of executives and line of business owners. By focusing engineering on ease of use, high-speed, thorough analysis and automated refinement, Context Relevant's customers can now evaluate huge stores of data to find actionable insight faster and with less expense than ever before. For more information email us at BigData@contextrelevant.com, call 800-980-DATA, or visit www.contextrelevant.com.
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