|[August 26, 2013]
GridGlo Secures $1.1M to Expand its Groundbreaking Data Fusion Platform; Rebrands as TROVE Predictive Data Science
DELRAY BEACH, Fla. --(Business Wire)--
GridGlo, a leader in data-powered predictive science, announces that it
has raised $1.1M in new capital and has rebranded under the name TROVE
Predictive Data Science.
TROVE fuses an organization's existing internal data with valuable
external data sources and applies its state-of-the-art predictive
science to help customers uncover new opportunities to monetize data and
drive innovation. The capital infusion comes from new strategic
investors as well as existing investor and TROVE partner CUBRC,
Inc., a research organization with deep data fusion expertise
initially developed for the U.S. Department of Defense and other U.S.
government agencies. The funding will be used to develop new
applications for TROVE's platform. Today, TROVE's predictive science
platform is helping utility companies optimize programs, identify fraud,
forecast demand, and segment customers.
"Over te past three years we have continually refined our technology to
meet the big data challenges faced by utility managers as they seek
innovative ways to extract business and operational value from the smart
grid," said Isaias
Sudit, founder and CEO of TROVE Predictive
Data Science. "As TROVE has evolved, we have discovered many new
ways that predictive data science can identify insights that drive value
for our customers across many market segments. In fact our experience
shows that the ability to transform data into actionable, results-driven
insights is the single most important key to achieving business
transformation in the coming years."
The rebranding from GridGlo to TROVE was driven by the need for a name
that was more reflective of the value the company brings to its
customers. "After considering numerous alternatives, we settled on TROVE
as a name that immediately connotes a collection of valuable resources,"
Tom McMahon President and CEO of CUBRC noted, "TROVE's technology
platform is state-of-the-art, leveraging decades of research and
development in multi-source data fusion. Combining expertise in
statistics, engineering, computer science, data fusion and other highly
specialized disciplines, TROVE can accurately and repeatedly help
customers predict future behaviors and capitalize on emerging trends."
About TROVE Predictive Data Science
TROVE delivers analytical solutions and data-driven insights to its
customers. The company's multi-source data fusion technology combines
internal customer data with over 2,000 attributes of external
third-party data. TROVE's TFX Platform processes massive volumes of
data, including structured, semi-structured, and unstructured data, as
well as high-velocity streaming data. Its data scientists develop
proprietary algorithms to observe data behavior and identify insights,
providing value to customers through web interface tools. TROVE's core
analytical capabilities provide applications for program optimization,
fraud identification, demand forecasting, and customer segmentation. The
company was founded in 2010 and is headquartered in Delray Beach, FL.
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