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.”
About NTEC
Mandated by the Kuwait Council of Ministers with a clear strategy and a fully owned subsidiary of the Kuwait Investment Authority (KIA), National Technology Enterprises Company (NTEC) was created to play a vital role in servicing major stakeholders in Kuwait with their technology needs. NTEC's business model is that of a Technology Projects Development company utilizing investment tools such as Private Equity, Venture Capital and Direct Investments to initiate and stimulate technology projects in Kuwait and the local region. NTEC is capitalized at 45 Million Kuwaiti Dinars (Approximately 155 Million U.S. Dollars) with over 23 direct international investments and 10 VC funds across three main sectors; Life Sciences, ICT and Energy & Clentech.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10 billion in over 1,140 companies in 50 countries. In that timeframe, 191 portfolio companies have gone public on various exchanges around the world and 268 were acquired or participated in a merger. In 2010, Intel Capital invested US$327 million in 119 investments with approximately 44 percent of funds invested outside the United States and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com
About NeuString:
NeuString is a privately held software company dedicated to delivering predictive analytics software products to mobile service providers. NeuString’s predictive analytics product, Optiprizer, allows for precise and instant data analysis for all services and all subscribers, with an unparalleled granularity allowing for analysis on individual transactions. The Optiprizer product is utilized for designing complex price plans, bundles and packages; simulation, monitoring and benchmarking of pricing alternatives; revenue leakage identification; micro segmenting and profiling of mobile users; and not least predicting and even prescribing future profit impacts. Furthermore, the Optiprizer product facilitates detailed budgeting and forecasting split in various ways to cater for sales, PM, marketing, network, and finance information requirements. With the Optiprizer software suite mobile service providers are able to make concrete strategic decisions based on clear and tangible business insights with an unparalleled short time to market. The NeuString Optiprizer product makes competing on analytics the key competitive factor for mobile service providers. NeuString is an active associate member of the GSM Association. NeuString’s Optiprizer product is utilized by more than 40 mobile service providers in Europe, Middle East, Africa and Asia. NeuString is owned by a group of international private and institutional investors.
Intel is a trademark of Intel Corporation in the United States and other countries.
