The following is the full press release announcing Dell's and S Capital's investment in Pecan.
Investment led by Dell Technologies Capital and S Capital; Company’s breakthrough technology will enable businesses to rapidly build and deploy predictive analytics models
NEW YORK, NY, January 28, 2020 – Pecan.ai (Pecan), an AI-powered predictive analytics platform provider, today has launched out of stealth. The startup has received a total of $15 Million in funding, led by Dell Technologies Capital and S Capital. Pecan’s proprietary platform uses deep learning (neural networks) and machine learning to make predictive analytics 10 times faster than any alternative, and without requiring prior data science knowledge. The capital raised will allow Pecan to expand its business worldwide. The company plans to double its workforce in the coming year.
Founded in 2016 by Zohar Bronfman, (Ph.D. in Computational Cognitive Neuroscience and Ph.D. in History and Philosophy of Science) and Noam Brezis, (Ph.D. in Computational Cognitive Neuroscience) through extensive research into deep learning and AI, Pecan’s platform is purpose-built to speed and simplify the process of building and deploying predictive models – especially when there are no pre-existing data science capabilities. The founders were later joined by additional data science expert PhDs, as well as ex-military elite intelligence unit data engineers and developers. Together, they formed Pecan’s core technology team.
“Pecan has created the ability to build high-quality predictive models accessible for every business, eliminating the need for prior knowledge, expert human capital and tools otherwise necessary to execute this kind of complex task,” said Noam Brezis, CTO at Pecan. “Our recent funding from Dell Technologies Capital will provide us with the financial support to continue innovating the world’s first platform that automates the entire modeling process – inducing data engineering, preprocessing and preparation. We are excited to make predictive analytics accessible to millions of businesses worldwide.”
“The technology behind Pecan’s predictive analytics platform is on course to truly transform the way organizations across the globe conduct business,” said Yair Snir, managing director, Dell Technologies Capital. “We are thrilled to welcome Pecan into the Dell Technologies Capital portfolio. Together, we are confident that DTC’s market prowess combined with Pecan’s innovative deep and machine learning technology will create an opportunity to disrupt the AI landscape.”
“Pecan provides data science capabilities to organizations and departments that do not have data scientists,” said Aya Peterburg, founder and managing partner, S Capital. “We at S Capital are happy to work with the Pecan team in building a revolutionary product to the AI world.”.
The Pecan platform provides state-of-the-art prediction technologies for a wide range of business use cases, including prediction of demand, churn, customer lifetime value, upsell potential, segmentation, pricing and promotions optimization, fraud and anomaly detection and more. Pecan equips data and business analysts with data science capabilities. Customers have reported radical outcomes from using the platform, such as the ability to:
Pecan is an AI-powered automated predictive analytics platform that simplifies and speeds the process of building and deploying predictive models in various customer-journey and operational use-cases. Pecan does not require any data preparation, engineering or prepossessing, it connects directly to raw data, and uses neural networks to automate the entire predictive process. With Pecan, organizations with no prior data science experience can obtain and deploy AI models in days.
About Dell Technologies Capital
The Dell Technologies Capital investment team is comprised of company builders with the mission of helping founders and their teams develop innovative technology solutions and bring them to market. They are active investors, sustaining an investment pace of approximately $100 million a year. As the global investment practice for the Dell Technologies family of businesses (Dell, Dell EMC, Pivotal, RSA, SecureWorks, Virtustream and VMware), Dell Technologies Capital offers deep business and technical expertise and unparalleled go-to-market assistance to our portfolio companies. After operating in stealth for five years, the venture practice emerged publicly in 2017. Headquartered in Palo Alto, Calif., Dell Technologies Capital currently has offices in Boston, Austin and Herzliya, Israel. For more information visit www.delltechnologies.com/capital.
About S Capital
Following decades of successful investment experience, Aya Peterburg and Haim Sadger decided to found S Capital. S Capital was founded to give the Israeli entrepreneur a unique set of tools that was missing in the market. On one hand, S Capital brings with it all of the experience and methods that were acquired while working at one of the best firms on the globe. On the other hand, S Capital is a boutique fund. Today, S Capital uses the advantages of both of these worlds, bringing the knowledge and know-how of an established firm as well as the agility of a boutique firm.