Funding round completed
Xtract, a specialist in customer analytics, raised € 2 in a first round of funding from Eqvitec Technology Fund III and said it expects to raise a second round later in 2007.
Xtract specialises in analysing consumer behaviour on the Web and mobile phone networks, to support targeted advertising in online communities and social networks. The funding will be used to further expand internationally.
Juha Mikkola, Senior Partner of Eqvitec Partners, says, “Xtract started selling its customer and community analytics solutions less than 12 months ago and has already signed a great number of international operator contracts worldwide.”
Kimmo Kiviluoto, CEO and founder of Xtract, adds, “Our international growth is based on the growing demand for mobile advertising solutions and community analytics. Our unique competence, market-proven products and technology are currently opening new opportunities in the internet and mobile advertising space.”
Xtract claims to make it possible to market to online communities and mobile phone users by using raw customer data to predict consumer behaviour. The technique is being applied for example to arrest the high level of churn among mobile phone customers, by helping operators anticipate when a customer is liable to change to another network.
The Helsinki-based company says it can help companies to understand who their customers are, how they behave, what communities they belong to and how they interact within those communities.
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