PredictHQ, an Auckland, New Zealand-based demand intelligence company, raised $22m in Series B funding.
The round was led by Sutter Hill Ventures with participation from Aspect Ventures, Lightspeed Venture Partners, Rampersand VC and AddVenture Fund.
The company intends to use the funds to expand its operations and business reach as well as to enhance product development efforts, including an upcoming release of its correlation and prediction engine.
Led by Campbell Brown, CEO and co-founder, PredictHQ works by aggregating and verifying more than two billion data points to enrich nearly 25 million events across 30,000 cities worldwide into a single API.
The technology allows businesses to identify which future events will drive demand. By correlating their historical demand with events, the solution enables companies to zero in on the exact causes behind fluctuations in demand.
PredictHQ allows major organizations in the airline, accommodation, retail, and transport sectors to accurately anticipate fluctuations in demand for their products, services, and on their staff. By leveraging intelligence on upcoming concerts, sporting events, conferences, school holidays, severe weather and more, the system lets companies understand people movement and its impact on commerce via one global events API.
Companies using it include Accenture, Booking.com, Domino’s, goPuff, Legion Technologies, Qantas, Sonder, and Uber, among others.