(PRWEB) September 15, 2015
Big Data For Humans, the leading European data science-as-a-service provider for the retail and travel sector, today announces it has secured a $1.2 million seed funding round led by EC1 Capital with further investment from Firestartr, Scottish Investment Bank and a group of four Angel investors. The investment is to support the company’s growth to scale and go global.
Big Data For Humans is an alumni of Techstars, the world’s leading tech incubator and in 2014 received investment from their US-based funds. Since graduating from Techstars, Big Data For Humans have achieved significant traction in the UK by gaining clients from large supermarkets to niche travel companies. The business provides the world’s first data-science-as-a-service solution to help the retail and travel sector exploit big data to understand who their customers are, what they want and identifies how to sell more to them every day.
Commenting on the investment, Peter Ellen, CEO at Big Data For Humans says, “Big Data For Humans is revolutionizing the way businesses leverage their data science. We're at the forefront of the next wave of marketing software, enabling marketing and commercial executives to use data science-as-a-service without the cost of expensive teams and infrastructure. We are seeing clients automate their insights and then execute much smarter and more profitable strategies, built around their customers. Peter Ellen was a co-founder at Maxymiser, the marketing automation software company recently sold to Oracle, prior to which he co- founded Fopp Ltd (sold to HMVplc) UK’s largest independent entertainment retailer.
Yannick Roux, Principal at EC1 Capital, comments, “Big Data For Humans is at the forefront of changing the big data landscape, by enabling businesses to automatically derive insights from their transactional data and help drive better marketing decisions. We are delighted to back an experienced management team, led by serial entrepreneur Peter Ellen, focusing on the opportunity at the intersection of two big themes that we are particularly excited about: the democratisation of big data and the maturing of the e-commerce-enablement ecosystem.”
Big Data For Humans is located in Glasgow and London and was founded in 2014 by Peter Ellen and Steven Rose. Together they have over 25 years of experience in customer centric marketing, building data warehouses and CRM systems. They met while working at Maxymiser where they developed an obsession for customer centricity, which inspired them to build the next generation of marketing software.
About Big Data For Humans
Big Data For Humans gives marketers a strategic advantage by delivering automated customer insight, identifying how they behave and how much they are worth. The basis is very sophisticated using network maths similar to Facebook and other social networks. By comparing customer purchasing habits, the customers can be considered somewhat similar, falling into groups with common purchasing habits based on using x-channel transaction data.
Marketing teams are then able to rapidly target customers via the best channels, such as personalised emails, website adaptation, mobile messaging or via the contact centre. Orchestrating this kind of thing used to require major IT spend and slow, complex processes. Now they have a method that reflects the dynamics of the omni-channel customer experience.
EC1 Capital is a London-based early stage venture capital fund focused on UK-based consumer and enterprise software companies at the Seed to Series A stages. Since its inception in 2012, EC1 Capital has backed high growth startups such as UserReplay, ClusterHQ, Weswap and Truly Experiences, and most recently exited photo-sharing app Lifecake to Canon Europe.
Firestartr helps the most promising digital entrepreneurs take their companies from seed stage to Series A and beyond. Beyond providing capital, Firestartr draws on its team and advisors' entrepreneurial successes and senior operational experience with leading technology companies to support sustainable growth in the portfolio.
Scottish Investment Bank
The Scottish Investment Bank (SIB) is the investment arm of Scotland’s main economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of co- investment funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF), Renewable Energy Investment Fund and the Scottish Recycling Fund. SIB is the cornerstone investor in the privately-managed Scottish Loan Fund, managed by Maven Capital Partners and an investor in Epidarex Capital’s life sciences fund. Our investment funds support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital. We also provide a team of financial readiness specialists to help companies prepare for new investment and access appropriate finance.
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