Datacratic Launches its Real-time Machine Learning Platform
Montreal (PRWEB) Tuesday, July 24 - 2012
Datacratic provides predictive analytics that adapt to consumer behavior in real-time. The company is utilizing its recent financing round to add additional engineering talent to its development team.
Datacratic (formerly Recoset) today announced the commercial availability of its real-time predictive analytics platform. Datacratic also confirmed the closing of a second stage seed round earlier this year bringing total financing to $2 million. The round was led by BDC Venture Capital with participation from Real Ventures who followed their initial investment. The financing has allowed Datacratic to add engineering talent to expand its product offering and further enhance the platform.
Datacratic’s machine learning platform provides real-time predictive analytics on a platform as a service model. Machine learning is a form of artificial intelligence using a series of algorithms to evaluate data and predict future events. It’s an essential tool for marketers who need to adapt to consumer behavior on the web in realtime. Datacratic has developed this first-of -a-kind platform that is capable of running its predictive engine on true real-time data streams rather than performing predictive analysis on static pools of data.
The company is focused on leveraging the emerging opportunity in real-time marketing and personalization. Datacratic’s platform is used to provide real-time optimization and machine learning to Data Management Platforms (DMPs), Demand Side Platforms (DSPs), Agency Trading Desks (ATDs), E-Commerce web-sites and others. Early beta customers include BlueKai, a leading data marketplace and data management platform, Beyond The Rack, a private online shopping club, and AdGear, a display ad platform delivered by BLOOM Digital Platforms.
“We are looking forward to helping Datacratic become a leader in the Real-Time Machine Learning and Predictive Modeling market space.”“Real Ventures' strategy is to partner with entrepreneurs with grand visions at the earliest stages and support them in their quest to build a great company. We backed the Datacratic team from the seed of their initial idea and we are thrilled to partner with BDC to help propel Datacratic’s technology to the next stage of commercialization,” says JS Cournoyer, General Partner at Real Ventures.
“BDC is very impressed with the technology, the management team and market positioning,” adds Steven Abrams, Partner, IT Venture Fund, BDC Venture Capital. “We are looking forward to helping Datacratic become a leader in the Real-Time Machine Learning and Predictive Modeling market space.”
“We are thrilled to have BDC and Real Ventures as strategic partners and investors,” said James Prudhomme, CEO of Datacratic. “Their support allows us to invest heavily in engineering talent to expand our product offering and further enhance our platform.”
Datacratic’s platform has quickly been adopted by the ad-tech industry. Several applications that help to close the gap between an advertiser’s data and real-time marketing transactions have already been developed to run on top of the platform. Announcements regarding these apps are expected in the coming weeks.
Datacratic is software company that applies real-time machine learning and predictive modeling to big data generated from consumer behavior. Datacratic provides optimization for Data Management Platforms (DMPs),Demand Side Platforms (DSPs), Agency Trading Desks (ATDs), e-commerce web sites and others in the realtime marketing ecosystem. Originally founded as Recoset in February 2010 and headquartered in Montreal, Datacratic is privately held with backing from Real Ventures and BDC Venture Capital. For more information visit Datacratic.com.
*About Real Ventures
Real Ventures is a seed venture fund based in Montreal which invests alongside entrepreneurs from idea to exit. The Real Ventures fund aims to be first money behind great teams and companies on the web, mobile, SaaS, ecommerce, gaming and digital media sectors and to help them achieve their full potential. For more information visit Realventures.com.
*About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada with more than $1 billion in current and planned investments. BDC VC invests both directly into companies and indirectly into promising VC funds. Its investments are made primarily into companies involved in the areas of Information Technology, Energy/Cleantech and Health Care. In addition, through strategic initiatives and investments, it plays a unique role in stimulating both the Canadian venture capital industry and the surrounding innovation ecosystem, including leading efforts in entrepreneur and angel investor development. For more information visit bdc.ca/venturecapital.