Pecan recognized for achievements in AI for business
NEW YORK / TEL AVIV –– May 17, 2022 –– CB Insights today named Pecan AI to its annual AI 100 ranking, showcasing the 100 most promising and innovative private artificial intelligence companies in the world.
“This is the sixth year that CB Insights has recognized the most promising private artificial intelligence companies with the AI 100. This year’s cohort spans 13 industries, working on everything from recycling plastic waste to improving hearing aids,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Last year’s AI 100 companies had a remarkable run, raising more than $6 billion, including 20 mega-rounds worth more than $100 million each. We’re excited to watch the companies on this year’s list continue to grow and create products and services that meaningfully impact the world around them.”
“We’re thrilled to be included in the AI 100 List of Most Innovative Artificial Intelligence Startups,” said Zohar Bronfman, CEO and co-founder of Pecan AI. “This recognition reinforces our commitment to putting predictive analytics capabilities into the hands of all business teams and data analysts. Pecan empowers them to drive profound business impact on mission-critical business KPIs, without requiring data science resources. We look forward to continuing to democratize predictive analytics and its transformational effects on business outcomes.”
Utilizing the CB Insights platform, the research team picked 100 most promising private market vendors from a pool of over 7,000 companies, including applicants and nominees.
They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed thousands of CB Insights research Analyst Briefings submitted by applicants.
Sitting at the nexus of AI and data analytics, Pecan’s low-code predictive modeling and data science platform empowers business intelligence (BI) analysts to predict revenue-impacting risks and outcomes. Users can turn massive amounts of raw transactional data into accurate predictions of critical key performance indicators that directly impact revenue and profitability.
Over the last year, Pecan has once again more than tripled its annual recurring revenue. This growth is fueled by accelerating customer adoption with midmarket and enterprise companies across fintech, insurance, retail, consumer packaged goods, mobile apps, and consumer services.
These companies chose Pecan to unlock transformational improvements in customer acquisition, customer retention and lifetime value, supply-chain optimization, resource allocation, and pricing and packaging.
Quick facts on the 2022 AI 100:
- Equity funding and deals: Since 2017, the 2022 AI 100 cohort has raised $12 billion+ from 650 investors, across 300+ equity deals.
- Unicorns: There are 16 companies with $1 billion+ valuations on the list.
- Geographic distributions: Seventy-three of the selected companies are headquartered in the U.S. Eight of the winners are based in the U.K., followed by five in Canada. Other countries represented in this year’s list include Israel, India, Sweden, China, and Germany.
About Pecan AI
Pecan helps business intelligence, operations, and revenue teams predict mission-critical outcomes. As the world’s only low-code predictive analytics and data science platform, Pecan enables companies to harness the full power of AI and predictive modeling without requiring any data scientists on staff. With Pecan’s platform, companies turn hindsight into foresight by generating highly accurate predictions and recommendations that improve customer lifetime value, retention, conversion rates, demand forecasting, and other revenue-driving KPIs. Founded in 2018, Pecan’s predictions impact billions of dollars in revenue for fintech, insurance, retail, consumer packaged goods, mobile apps, and consumer services companies of all sizes. Learn more at www.pecan.ai.
Danielle Gotkis, SVP of Marketing, Pecan AI
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.