DecisionNext announces $7 Million Series A Funding to Grow Dynamic Commodity Forecasting Platform
Funding will expand sales & engineering teams, R&D efforts
SAN FRANCISCO, June 4, 2019 /PRNewswire/ -- DecisionNext, the global SaaS leader in dynamic commodity market forecasting and prescriptive analytics, has announced a $7 million Series A funding round to fuel growth. The funding round was led by Dalus Capital.
DecisionNext enables the world's largest meat, food, and agriculture companies to create dynamic and robust forward looking views of commodity markets, then translate those views into actions the business user can take to fully monetize the forecast.
Recognizing the unique needs for commodity market forecasting and the incredible value to be captured by operating companies who frequently make high value decisions, the co-founders sought to build a platform applying innovative analytics to these segments.
"If you listen to earnings calls by publicly traded companies, you'll notice that market risk is front and center, because it's central to their ability to consistently deliver profit against projections. Giving these executives powerful tools to simulate markets allows fine tuning of tactics to hit a number, while quantifying the risk of not hitting it," noted Mike Neal, Co-Founder and CEO of DecisionNext.
Powered by proprietary machine learning algorithms, DecisionNext allows market experts to bring together the best of human and machine intelligence to improve market visibility and forecast accuracy through transparent, interactive software. By quantifying risk, decision-makers can more effectively make high value, high frequency decisions across purchasing, pricing, and sales functions.
"For example, if we are trying to figure out the price of chuck rolls in the beef industry in the United States six months from now, we will simulate prices of chuck rolls along with the rest of the beef carcass to produce a distribution of likely prices six months from now. The reason it is useful is that the whole industry makes forecasts or even guesses about where prices are going over a time horizon that is usually at least six months out, sometimes longer, and makes decisions based on those forecasts," added Neal.
DecisionNext will use the funding to expand its sales and data science teams as well as R&D and engineering. DecisionNext has a commercial presence in North America, Asia Pacific, and Europe that will continue expanding.
For more information, go to DecisionNext.com
SOURCE DecisionNext
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