Israeli startup Pecan AI, the business-ready predictive analytics company announced on Wednesday it raised $35 million in new funding to “equip both commercial analysts and business stakeholders with the power of predictive AI,” the company said in a statement.
The round was led by global investor GGV Capital with participation from Vintage as well as existing investors Dell Technologies Capital, S-Capital, and Mindset.
This round brings the company’s total financing to more than $50 million.
This Series B will allow Pecan to expand its operations globally and continue to help organizations accelerate the adoption of AI and advanced analytics.
“Pecan was designed to drive business value from AI. In one intuitive platform, analysts and business stakeholders can obtain actionable insights and see outputs in a matter of days after adding their raw data — helping companies evolve from BI to AI,” said Zohar Bronfman, CEO and co-founder at Pecan, “We have seen tremendous uptake from organizations of all sizes, and are looking forward to expanding globally and bringing real business value to our customers.”
The business world knows that AI will somehow power the next revolution in analytics. But rollouts of AI have been slow, and there is a gap estimated in the dozens of billions of dollars between the potential of AI and businesses’ ability to implement and deploy complex models. Pecan “democratizes data science and AI” by putting the power of predictive modeling in the hands of business analysts with a platform that models its straightforwardness after classic BI.
“As AI becomes a critical tool for businesses to understand what the future holds, we see outsized potential for a tool like Pecan to democratize data science and bring the power of AI to business users and data analysts,” said Oren Yunger, investor at GGV Capital and new board member for Pecan.