Pecan AI Raises $66M To Advance AI Automation And Predictive Analytics

Israeli predictive analytics platform, Pecan AI, has secured $66 million in a Series C funding round led by global private equity and venture capital firm, Insight Partners, along with support from prior investors including GV, S-Capital, GGV Capital, Dell Technologies Capital, and others.

This raises the company’s total funds raised to over $100 million.

Pecan AI said the funding will be used to scale its global footprint and accelerate research and development of the low-code predictive modeling and data science platform.

Founded in 2018, Pecan’s AI services aid business intelligence, operations, and revenue teams to predict “revenue-impacting risks and outcomes” without the need for data scientists. Pecan enables its users to transform substantial amounts of raw transactional data into accurate insights predicting the profitability impacts key performance indicators such as customer lifetime value, retention, conversion rates, and demand forecasting directly yield. 

To date, Pecan’s predictive algorithms impact billions of dollars in revenue for consumer goods, fintech, insurance, mobile application, and wellness and beauty companies of various sizes, tripling its annual revenue from the past year. 

“We believe that any company should be able to deploy AI-based predictive analytics, even without data science resources on staff,” said Zohar Bronfman, CEO and co-founder of Pecan AI. “This new funding will help us scale Pecan further to overcome the data science scarcity gap, enabling our customers to move beyond outdated data-mining techniques that offer little value in predicting future outcomes.”