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San Francisco, Paris, London, June 16, 2010
KXEN, the leading provider of data mining automation solutions, today announced that it has closed $8 million in series D funding to further accelerate its growth and international expansion. The round was led by NextStage and included participation from existing investors XAnge Capital, Sofinnova Ventures, Saints Capital and Motorola Ventures.
“This additional funding is a great vote of confidence in KXEN’s vision of how companies can optimize their business by using predictive analytics. We are thrilled to see the concrete benefits our customers are getting and plan to use this funding to invest even more heavily to accelerate our growth and vertical market development,” said John Ball, CEO of KXEN.
“KXEN is a leader in the fast growing market of predictive analytics with an impressive list of blue chip customers. KXEN has all the ingredients we look for in an investment: unique technology, happy customers, a strong management team and a fast growing market,” said Herve de Beublain, Managing Partner of NextStage.
“KXEN helps customers run their businesses better by providing insight into all aspects of the customer lifecycle,” said Brian Wilcove, Partner at Sofinnova Ventures. “Every company faces the challenges of acquiring and retaining good customers and selling more products to those customers. KXEN’s predictive analytics puts a spotlight on which customers to target and which products to sell. We believe that demand for KXEN’s technology is accelerating and this investment will help them meet that demand.”
KXEN was recently named a leader in predictive analytics and data mining by Forrester Research (1) and was rated highest for commercial deployments of social network analytics by Frost & Sullivan (2).
(1) "Forrester WaveTM: Predictive Analytics & Data Mining Solutions, Q1 2010", February 4th, 2010, by Jim Kobelius, Forrester
(2) Exploring the Use of Social Network Analysis (SNA) in the Telecommunications Industry, January 18th, 2010, by Saverio Romeo, Frost & Sullivan
About KXEN
KXEN, The Data Mining Automation Company™ delivers next-generation Customer Lifecycle Analytics to enterprises that depend on analytics as a competitive advantage. KXEN's solutions for CRM lifecycle analytics drive significant improvements in customer acquisition, retention, cross-sell and risk applications. KXEN’s solutions are based on patented innovations and have been deployed at over 400 customers including Bank of America, Barclays, Cox Communications, Lowe’s, Meredith Corporation, Overstock.com, Rogers, Vodafone, and Wells Fargo. KXEN is headquarted in San Francisco, California with field offices in the US, Paris and London.
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KXEN and the KXEN logo are trademarks of KXEN, Inc. All other trademarks are the property of their respective owners.
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