Atlanta-based Revenue Analytics, a provider of pricing and revenue management software, has raised $11 million in Series A funding led by Noro-Moseley Partners and joined by Blue Lagoon Capital.
Revenue Analytics has bootstrapped since 2005 to more than 100 employees today, according to a news release. The startup provides predictive analytics software applications for Fortune 500 clients, hotels, cruise lines and media companies.
“If you booked a business trip or vacation anytime in the past decade, odds are that the price you paid was the result of a Revenue Analytics algorithm,” Alan Taetle, a general partner at Noro-Moseley Partners, said in a statement.
Three years ago, the company pivoted from delivering customized client solutions to using AI to create a scalable, cloud-based predictive analytics platform. The platform provides customers with more than 70 micro-services that continuously update.
Revenue Analytics will use the new capital to scale, innovate, grow and develop client success. The startup will hire 50 more people in sales, marketing and product development roles in the next 12 to 18 months.
“The company’s track-record of delivering results for its customers, innovative SaaS analytics platform and strong corporate culture has paved the way for what we believe will be growing success across multiple markets," Taetle said.
Blue Lagoon Capital partner and co-founder Rodney Rodgers will join the company's board of directors. Rogers previously served as the chairman and CEO of Virtustream, an enterprise cloud-service provider, which was acquired by EMC for $1.2 billion in 2015.
“We are proud of our growth and impact over the last 15 years. There is truly no company that has had more success in helping companies apply predictive analytics to commercial decisions than ours,” Dax Cross, CEO of Revenue Analytics, said in a statement. “But we’re even more excited about our future."
