NGDATA closes $19m Series C led by HPE Growth Capital

Big data solution for customer relations management NGDATA has closed a $19m Series C funding round led by HPE Growth Capital.

Other investors contributing to the investment included existing investors including Idinvest Partners, Pamica, SmartFin Capital, Capricorn Venture Partners and Nausicaa Ventures.

NGDATA implements its customer data platform ‘Lily’ to help organisations with greater data and insights on their consumers, to help make informed decisions. The solution uses historic and real-time customer interactions from all sources to build a holistic and individual overview of customers.

The solution is used by financial institutions to help with a range of customer management tasks including: fraud detection, risk management, segmentation, targeting, risk-based pricing, revenue generation, and personalised offers.

This year has been very eventful for the company with this marking its second capital injection, following a $9.4m fundraise in January. In May, NGDATA acquired the data management solution Eccella, which helped to increase its global footprint across North America, Europe and Asia.

Equity from the investment will go toward accelerating global growth of the company, as well as furthering its development.

HPE Growth Capital partner Manfred Krikke said, “We have been looking at various companies in the big data management and marketing software segments for a while.

“What we love about NGDATA is that they offer their customers, such as large banks, telecom, media and utility companies, a sophisticated data infrastructure that combines all customer data from its internal systems with third party data sources and provides analytics capabilities in real time, so that they can deliver exactly the right message at the right time to the right consumer, without overburdening them with offerings.”

Big data solutions dominate funding activity in the data & analytics sub-sector, with it almost accounting for three-quarters of the total funding.

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