First Insight, a Pittsburgh, PA-based provider of a predictive analytics platform, raised $14m in a Series B financing.
Updata Partners made the investment. As part of it, Updata General Partner James Socas joined the board of First Insight.
The company intends to use the funds to expand expand into new geographies and vertical markets, and to further build out its platform to offer advanced marketing capabilities to its customers.
Founded in 2007 and led by Greg Petro, CEO, First Insight provides solutions that allow brands to incorporate the voice of the consumer into the design and merchandising of new products.
It combines predictive analytic techniques and real-time consumer feedback – captured through social media and online surveying – to generate actionable insights on product design, pricing, placement and marketing before the products are launched.
Customers include vertically integrated brands, sporting goods companies, department stores, mass merchant retailers and wholesalers.