LONDON, UK: NeuString, a leading supplier of predictive data analytics software in the mobile communications sector, has completed its Series B financing round led by the national technology enterprises company, Intel Capital, alongside new and existing private shareholders.
Dubai-based NeuString serves more than 40 mobile communications service providers across Europe, Middle East, Asia and Africa with advanced software products that help them improve profitability from mobile calls. It enables operators to segment prices for customers in accordance with their individual usage, behavior and requirements. NeuString is a specialist in advanced predictive data analytics, a rapidly growing area as mobile service providers come under increasing pressure on margins.
NeuString’s product enables operators to make instant predictive analytics on the effects of various changes in the market by having data on hand on demand. At the same time it makes the analytics actionable towards the individual customer by processing the large amounts of data on an individual customer and call level.
“Our focus is on providing rapid and comprehensive predictive analytic products ‘out of the box’ without the cost and delays of customization. This investment will enable us to rapidly expand our product vision and the markets we serve,” said Nikolaj Aertebjerg, CEO and co-founder of NeuString.
"NeuString has delivered constant growth and value to its customers and we see global potential in the predictive analytics market,” said Izzat Abou-Amarah, VP at NTEC Capital. “As a regional company with global potential, we are confident that our investment in NeuString will help accelerate this growth.”
Intel Capital, an early investor in NeuString, has continued its investment in this new round. "NeuString fits very well into our portfolio and is showing exceptionally strong customer growth both as a cloud-based service and as a software product," states Feroz Sanaulla, Investment director of Intel Capital Middle East, Turkey, N. Africa.
NeuString has also strengthened its board with three new directors, all highly experienced in the communications sector. Industry veteran Keith Willetts, who will chair the company, said: “As mobile markets saturate around the globe, operators are continually seeking ways to deliver more for less to their customers. Predictive analytics are the hot subject in the market and NeuString is ahead of the game.”
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