BERKELEY, CA--(Marketwired - Mar 17, 2014) - Wise.io today announced that it has raised $2.5 million in Series A funding led by Voyager Capital and named predictive analytics technology industry veteran Jeff Erhardt as CEO. Company co-founder Joshua Bloom will assume a new role as CTO leading the technology direction for Wise.io.
"Machine Learning is unquestionably the future of advanced analytics for the enterprise. When I first met Wise.io, I was struck by the caliber of the team and the unequaled performance of their core technology," said Daniel Ahn, managing director at Voyager Capital who joined the Wise.io board as part of the transaction. "Ultimately, what distinguished Wise.io from the other vendors and compelled us to invest was their focus on providing a complete turnkey product that was easily accessible to business users."
According to technology industry research firm Gartner (Gartner Forecast: Enterprise Software Markets, Worldwide, 2012-2017, 2Q13 Update), the customer experience market will be a $20.6 billion industry this year, almost doubling to a $36 billion market in 2017. Despite this explosive growth and the recognized need for customer-facing business processes to become more data-driven, there remains a substantial shortfall in the ability to implement the tools capable of deriving deep and actionable insights.
Wise.io provides applications spanning the entire customer lifecycle that apply the power of machine learning to help companies optimize how they acquire, monetize, and retain customers. The company was founded by leading experts in astrophysics, statistics, computer science, and machine learning as well as business executives who built innovative and disruptive businesses that brought advanced analytics to the enterprise software market. Wise.io's solutions are running in production at companies that range from Silicon Valley startups to the largest Fortune 500 corporations. Wise.io is based in Berkeley, California and backed by Voyager Capital.
Original Release: Marketwired
Image: Courtesy Wise.io