EDINBURGH, Scotland and SAN FRANCISCO, July 16, 2013 /PRNewswire/ --
Investment to accelerate predictive analytics technology and product development
Predictive analytics specialist GamesAnalytics, today announced that it has secured $1.3 million in Series A equity funding from new investors Par Equity and STV Group plc, which includes follow-on investment of more than $612,000 from Scottish Enterprise via the Scottish Investment Bank's Scottish Co-investment Fund. This is the first stage of a planned $3m investment program.
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GamesAnalytics will use the investment to help accelerate the development and productisation of its predictive modelling platform, Predict™ as well as to strengthen its sales and marketing activities to support its rapidly expanding global client base; with particular focus on Europe and the US. In addition, the funding will see the company increase its reach across all Free-2-Play gaming vertical sectors including social casino, real money gambling, mobile, MMOs and cloud gaming.
Global publishers and developers deploy GamesAnalytics' advanced toolkit and technology to improve retention and monetization in games design and increase player engagement by creating personalised playing experiences which reflect individual playing styles and competency levels.
"GamesAnalytics has clearly demonstrated a growing requirement for analytics within an industry reorienting itself to new business models and platforms," said Paul Atkinson, Partner, Par Equity. "With a technology roadmap which is firmly focused on strengthening its European and US market position, we are anticipating a successful partnership with the team at GamesAnalytics."
GamesAnalytics' Chairman, Tim Christian, added, "The company has made significant progress over the last couple of years developing its technology and analytics services as well as establishing an impressive cross-platform client base, following its initial modest angel investment. This new investment will enable us to accelerate platform development and deployment across all gaming sectors and the company is committed to developing best-of-breed analytics tools which enable publishers and developers to deliver intelligent Player Relationship Management strategies.
"We are delighted to have received this latest tranche of funding and to be working with Par Equity, STV Group and the SIB. It is testament to the growing importance of analytics in today's games industry."
Michelle Kinnaird, Investment Director at the Scottish Investment Bank, said: "GamesAnalytics is innovative, forward-looking and hungry for growth. It is actively seeking new opportunities and new clients, and that is exactly the kind of company we are here to support."
About GamesAnalytics
GamesAnalytics improves player satisfaction and increases game revenues. Its technology solution uses advanced data mining and predictive modelling to identify and segment significant player behaviours. Through this insight, players can be targeted with real-time individual in-game messages offering personalized experiences that build engagement and increase retention to drive significant revenue growth.
For more information visit http://www.gamesanalytics.com
About Funding Partners
Par Equity
Par Equity is a venture capital boutique, focused on innovative young companies with significant growth potential. It has a distinctive investment model, tailored to the requirements of young companies, that provides intellectual as well as financial capital. Through an advisory panel, drawn from its investors, of successful entrepreneurs, executives and managers and the Par Syndicate (a business angel investor group focused on innovative businesses) Par Equity is able to marshal an extensive network of people able to help portfolio companies overcome their strategic and operational challenges and so build value.
STV Group plc
STV is Scotland's leading media brand reaching over 4 million viewers each month via television channel, STV, and over 3.2 million unique users each month through its digital services. STV's digital business incorporates Scotland's most popular commercial media website, stv.tv, and a leading catch up service through the STV Player. STV. STV's television production business, STV Productions, produces hit series including Antiques Road Trip and Catchphrase.
Scottish Enterprise
Scottish Enterprise is Scotland's main economic development agency and aims to deliver a significant, lasting effect on the Scottish economy by identifying and exploiting the best opportunities for economic growth.
The Scottish Investment Bank is the investment arm of Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of funds including the Scottish Seed Fund; the Scottish Co-investment Fund and the Scottish Venture Fund, all of which are partly funded by the European Regional Development Fund (ERDF); the Scottish Plastics Loan Fund and the Renewable Energy Investment Fund. SIB is also the cornerstone investor in the privately-managed Scottish Loan Fund and an investor in Rock Spring Venture's Life Sciences Fund. Together, these support Scotland's SME funding market to ensure businesses with growth and export potential have adequate access to capital. SIB also provides a team of financial readiness specialists to help companies prepare for new investment and more easily access finance.
Now in its tenth year, the Scottish Co-investment Fund (SCF) is a £72 million equity investment fund established by Scottish Enterprise and partly funded by the European Regional Development Fund (ERDF) to invest from £100,000 to £1 million in company finance deals of up to £2 million.
Unlike a standard Venture Capital (VC) Fund or a business angel, the SCF does not find and negotiate investment deals on its own, instead it forms contractual partnerships with active VC fund managers, business angels and business angel syndicates from the private sector.
The private sector partner finds the opportunity, negotiates the terms of the deal and offers to invest its own equity cash. If the opportunity needs more money than the partner can provide, it can call on SCF to co-invest alongside on equal terms. The partner determines how much the SCF can invest in any new deal, however, the SCF cannot invest more than the private sector.
For GamesAnalytics media enquiries, please contact:
Stephen Green / Tim Banks
GiantPR
+44-(0)7775-677101
steve@giantpr.co.uk
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