Big Squid, a Salt Lake City, Utah-based predictive analytics and automated machine learning software company, has raised $9 million in Series A-1 funding led by Lewis and Clark Ventures. And Big Squid will be using the funding to further develop its Kraken platform.
“With this added investment we will be able to expedite focus on our product integrations with top data and analytics platforms as well as the growth of the team to execute quickly and bring automated machine learning power to more businesses faster” said Big Squid CEO Chris Knoch in a statement. “We are thrilled to add Lewis and Clark Ventures to the team. This funding will enable us to execute on our rapidly growing opportunity. They have already proven their commitment to this investment as a true partner with strategic guidance and active engagement with our entire team.”
Existing investors Silverton Partners, Signal Peak Ventures, and Kickstart Seed Fund also participated in this round. With this round, Big Squid has raised more than $18.5 million.
“Most businesses that we talk to have the desire to become more data-informed in their decision making, and rightfully so, yet few have the resources or even truly understand what that means,” added Lewis & Clark Ventures managing director Brian Hopcraft. “Hiring a full team of data scientists to develop predictive models is expensive and challenging, so it seems natural to us to build your strategy atop software that empowers both technical and non-technical users alike to unlock the value that’s already sitting in your data repositories. We’re thrilled to be working with this world-class team and believe this is the early innings of democratizing data science.”
As companies are seeking to leverage their data to inform key business decisions, it requires a tremendous amount of time, expertise, and preparation. Big Squid’s platform Kraken simplifies the process by tapping into machine learning and and predictive analytics. The platform allows companies workforces to automatically engage data science models and instantly surface correlations and draw critical insights and make future predictions.
