Trove Predictive Data Science (formerly GridGlo), a Delray Beach, FL-based provider of data-powered predictive science platform, raised $1.1m in funding.
Backers included new strategic investors as well as existing investor and Cubrc, Inc.
The company intends to use the funding to develop new applications for its platform.
Founded in 2010 by Isaias Sudit, CEO, Trove combines an organization’s existing internal data with external data sources and applies its predictive science platform to help customers with applications for program optimization, fraud identification, demand forecasting, and customer segmentation.
The platform processes massive volumes of data, including structured, semi-structured, and unstructured data, as well as high-velocity streaming data. Then, its data scientists develop proprietary algorithms to observe data behavior and identify insights.
Today, the company’s solution is used by utilities to optimize programs, identify fraud, forecast demand, and segment customers.