Predikto, an Atlanta-based predictive analytics startup, raised nearly $4 million in funding which will be used to expand research and development and expedite Predikto’s ability to go to market.
“We chose TechOperators to lead the round because we wanted investors who understood our market and aligned with our vision,” explained Mario Montag, CEO and founder of Predikto.
Said Mohammadioun led the TechOperators round. The Atlanta-based venture capital firm is headed by a group of four veteran entrepreneurs of the tech industry with the proven strategic and operational experience to drive growth. Asked what drew TechOperators to Predikto, Mohammadioun stated, “Predictive analytics in the industrial space is a nascent but very promising market in which we wanted to invest. We were very impressed with the Predikto team and are happy to be their partner in this great adventure.”
Predikto’s key technology incorporates a machine-learning software robot called “Larry” to optimize and expedite the development of custom predictive analytics algorithms for industrial equipment. Once Larry is configured to a customer’s needs, it produces predictions on things like machine breakdowns, production delays, expected life of equipment, and production yield.
“Larry’s ability to provide high accuracy predictions that are actionable for operational teams is the secret sauce of Predikto,” said Robert Morris, Ph.D., Predikto’s co-founder.“Larry will produce the best prediction possible given the customer’s data in the specific environment.”
This technology is what made the Predikto investment attractive to AIM. “First of all, we believe that the predictive analytics services of Preditko are far superior to any of the other offerings currently available in the marketplace,” said Jim Corman, AIM. “Secondly, we believe the team that Mario and Robert is building is more than capable of carrying out the business plan. And lastly, we love Larry!”
With Larry and the leadership team in place, Predikto has all the elements to make substantial gains in the market, and this round will help the company do that quickly. “Predikto provides a unique combination of what matters to us: A strong CEO, an identifiable need in a market that’s large and growing, secure intellectual property and a head start on the competition,” said Steve Walden of ATA. “With that combination and the funding to build a team quickly, Predikto is positioned to take a preemptive lead in a significant market. We believe that the opportunity for the company is immense.”