Funds to Accelerate Development of On-Demand Business Intelligence Service and Increase Headcount
San Mateo, Calif., – January 9, 2008 – Quantivo, the pionner in on-demand customer behavior analytics, today announced the closing of its Series A round of funding led by Foundation Capital and Partech International. The funding will enable Quantivo to drive market awareness, acquire new customers and extend its management and engineering teams.
Through its Software-as-a-Service (SaaS) applications, Quantivo provides analytic services for companies who require detailed data analysis, but do not have the time or resources to deploy the heavy and expensive infrastructure required. With a patented technology that delivers large scale, high-value analytic applications more quickly and cost-effectively than other available solutions, Quantivo dramatically improves the way consumer-centric companies deploy and leverage business intelligence.
"With our unique technology and approach to business intelligence, our on-demand offering is poised to change the business intelligence landscape as we know it, and this funding will enable us to start achieving that goal," said Brian Kelly, CEO, Quantivo. "Companies are increasingly looking to leverage data analysis and business intelligence for a competitive edge, and Quantivo provides the services to meet the needs of both large and small businesses in a cost-effective, efficient way."
"The on-demand Business Intelligence market is on the verge of explosive growth as organizations, including sales, finance and marketing, recognize the value in detailed data analysis but are frustrated by the high cost of ownership and limits of current solutions," said Warren Weiss, general partner, Foundation Capital. "We believe that Quantivo's unique solution will make it a leader in this emerging market."
"As large and small companies continue to see the concrete benefits of cost-efficient and powerful analysis, there is an increased recognition of the market need for business intelligence services," said Vincent Worms, co-founder and managing partner, Partech International. "With its innovative, patented technology and distinctive approach, Quantivo is already providing Fortune 100 and small companies alike with results that are changing the way business managers gain and use information derived from their data."
Weiss will join Kelly and Worms on Quantivo's Board of Directors.
Quantivo is pioneering a fundamentally new approach to customer behavior analytics. Our on-demand service and patented technologies empower business managers with deep and timely understandings of customer behavior at a fraction of the complexity, time, and costs required by today's solutions. With Quantivo, consumer-centric enterprises make impactful business analytics of rich, highly detailed data directly accessible to a wide set of business analysts and decision makers for applications such as marketing optimization, purchase analysis, policy verification, fraud detection, and more. For more information, please visit www.quantivo.com.