Singapore-headquartered Percipient has raised $713K in a seed round of funding led by a slew of angel investors including three previous heads of Citigroup’s IT operations.
The cohort included Mark Torkos and Scott Tanguay, partners at PruVista Capital. The former has worked before as Chief Information Officer of Citigroup’s global consumer group, while Scott was previously Citigroup’s Head of Operations for its Global Consumer Bank. Also, the round was joined in by Thomas Burke, Executive Chairman at Stone River, and had overlooked Operations and Technology function of Citigroup’s Global Consumer Investments.
With the freshly raised funds, the startup will be seen bolstering its R&D efforts and directing its focus on hiring. In addition, it aims to expand its footprint in Southeast Asia and set up an office in the US.
The digital data transformation and customer engagement startup helps the firms to hyper-accelerate connectivity between data sources at affordable costs. The companies, through this platform, can utilize valuable customer-generated content to drive higher engagement. They can also access powerful customer community analytics and visualization to uncover new revenue opportunities.
Its in-memory data discovery platform, UniConnect, claims to help its clients integrate their data in a more secure and affordable way than the traditional firms specializing in this domain.
Incorporated in 2014, this is Percipient’s first round of funding. Navin Suri, CEO, Percipient chose to bootstrap until they conducted their first product trials at various large financial institutions. This, he believes, helped them earn the confidence of the investors. Last year, the firm had announced State Bank of India as its first paying client.
Earlier in January, Percipient had unveiled a solution to address memory issues faced by customers of Apache Spark, an open source analytic tool. Its SparkPLUS solution enables only the unified data needed for analytics to be pulled into Spark, which thereby vastly multiplies its computing space.
