A Charlotte-based data analytics company has raised $5.9 million in a private equity offering, according to a filing with the Securities and Exchange Commission.
Stratifyd raised the money from four investors, according to the filing, and is seeking another $1.1 million from the offering.
The company previously raised $1.7 million in January 2016.
The company is a data analytics software company whose artificial intelligence platform uses machine learning to turn raw data into decisions.
- VIDEO: Learn more about the company and its technology at: https://www.youtube.com/watch?v=5zypvzArd3A
For example, Stratifyd analyzed feedback from 29,925 reviews left on Cruise Critic for Royal Caribbean Cruise Lines.
It compared an older ship and a newer ship in areas such as entertainment, food, and activities to measure ratings for when the ship was first launched, three years into its voyages, and the current rating to determine which ship rated better over time.
The Stratifyd process
Completely merge all of your structured and unstructured data sources across every feedback channel to leverage your internal information along with every chat, survey, review, and news feed for a complete view of data.
AI powered contextual analysis allows your unified data to speak to you with efficient accuracy and show you the context behind the results while revealing unexpected insights not possible with legacy data analytics.
Achieve faster data driven solutions provided by unsupervised machine learning that moves you toward the right business decisions in less time, while allowing you to use your domain knowledge to get the most from data.
Stratifyd said it saw 300 percent growth in 2016 through demand for its software. During the year, it added clients such as Lenovo, Kimberly Clark, and Ally Bank. Stratifyd also opened international offices in London and Beijing
Its founder and CEO is Derek Wang, who has held positions at Microsoft Research, Xerox, and Bank of America before becoming the associate director of the Charlotte Visualization Center where he worked on projects for Homeland Security and Bank of America, among others.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism