NEW YORK, Feb. 19, 2013 (GLOBE NEWSWIRE) -- Sociocast – the extrapolative analytics platform that makes it easy for companies to deploy business-impacting predictions – has unveiled a groundbreaking Prediction API that will offer product and application developers unprecedented accessibility to prediction technology.
The Sociocast Prediction API boasts a seamless platform through which developers and companies can integrate predictions into existing products and applications. Small and large data owners will now have access to Big Data analysis and predictions at 10% of the cost of existing solutions. The new self-service console will allow Sociocast clients to customize predictions and integrate them in real-time with ad servers, data management platforms, content optimization, A/B testing, and more.
With more than 20 companies using the platform, Sociocast's new technology will have a profound impact on various verticals, particularly the media, retail, financial services, online gaming, and government sectors.
Sociocast's Prediction API presents an unprecedented accuracy rate of 4 to 7 times more precise than existing solutions, seamlessly handles unstructured data, such as URLs and text, and is flexible to handle customer-specific data schemas. Additionally, the new technology easily integrates with Optimizely, Google DoubleClick, Adobe Test&Target, Tealium, Monetate, AppNexus, Krux, and many other third-party platforms.
In support of the company and its announcement, Raptor Ventures invested $1 million in funding. The company also welcomes to its board Robert Goldberg, an investor and entrepreneur with 30 years of experience in SaaS, e-commerce, consumer internet and gaming.
"The industry is ripe for a frictionless approach to predictive analytics; it will democratize access to information that will be company building," says Goldberg. "I am excited to be a part of the team and business that is reinventing the way in which companies digest ever-evolving information."
"Robert Goldberg's background will complement Sociocast's board of industry experts; an advisory board which includes Bobby Yazdani, seed investor in Google and DropBox, and Gokul Rajaram, Director of Ad Products at Facebook," says Albert Azout, CEO and founder of Sociocast. "His guidance will enable us to continue to work with companies to maximize the utilization of their first-party, proprietary data to drive engagement and revenue."
Sociocast had previously secured $4.87 million in prior venture funding, and is now positioned to enter hyper-growth mode.
Sociocast makes it easy for companies to quickly deploy business-impacting predictive analytics. Working across various verticals and platforms, Sociocast has reinvented the way companies can extract insights from rapidly evolving data. The company's groundbreaking technology allows businesses to access enterprise-grade prediction at a fraction of the cost of existing solutions, while saving time. To learn more about Sociocast, please visit www.sociocast.com. Follow Sociocast on Twitter at www.twitter.com/sociocast.
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Media Contact: Meghan Cross 646-300-8364