×

Belgian ‘Big Data’ Firm NGDATA Closes €2M in Funding for Global Expansion

Flagship Next Generation Consumer Intelligence Solution ‘lily™’ to Tap into ‘Big Data’ Boom, Enabling Enterprises to Gain Deeper Consumer Insights

GENT, Belgium--(BUSINESS WIRE)-- NGDATA™, the consumer intelligence solutions company, today announced that it has closed €2M million in funding from ING, Sniper Investments, Plug and Play Ventures and U.S. angel investors. The funds will enable NGDATA, which helps companies better understand their consumers by deriving value from big data, to further invest in product development and drive global business opportunities.

NGDATA enables consumer-oriented enterprises to make better recommendations and product offers to its customers as a result of advanced one-to-one marketing. The company’s software solution lilyTM uses machine-learning to generate a precise snapshot of consumer preferences and behaviors, providing businesses with a more personalised way to target consumers and increase sales and customer loyalty.

“The Big Data market is accelerating at a rapid pace and it’s becoming increasingly important for organisations to be able to quickly assess and act upon the insights that this data offers,” said ING Investment Director, Tom Bousmans, one of the lead investors. “Billions of data points are being generated by consumers every second, creating a massive opportunity for enterprises to better understand their customers and prospects. NGDATA makes it easier than ever for enterprises to quickly use these data to initiate more personalised and dynamic interactions with consumers.”

Luc Burgelman, CEO of NGData, said, “It is critical for enterprises to better understand consumer preferences and behaviors, as this knowledge is the basis of continuous business improvement. With our solution lily, more enterprises are able to easily classify consumers to create a very personalised interaction – which ultimately results in increased sales, customer loyalty and a significant competitive advantage. This round of funding is just the beginning for NGDATA as we expand our business and evolve our product line.”

About NGDATA

NGDATATM is the consumer intelligence company that empowers enterprises seeking greater customer lifetime value to drive continuous, actionable insights to enable sales and increase customer loyalty. The company does this through its unique combination of Big Data management and machine learning technologies in a single integrated solution. Headquartered in Gent, Belgium with offices in New York City and San Francisco, NGDATA provides solutions to data-driven sectors such as financial services, retail and media/publishing.

Media inquiries:
Judith Massey
+44(0) 0207 282 2987
judith.massey@citigatedr.co.uk

Source: NGDATA