June 8, 2015, Boston, MA - Budapest, Hungary
Maven7, a leading player in network science-based business analytics, has raised over $1.5 million in 'Series A' funding led by venture capital management firm, Perion. The funding is earmarked for market expansion and the further development of Maven7’s business analytical tools.
"With this investment round, the international sales of our already successful solutions receives yet another boost. After a successful US and Latin American market entry, we are working on acquiring further customers, entering new markets, and introducing new products." said Peter Ruppert, CEO and co-founder of Maven7. "We are proud to have Perion on board, and are excited to move forward with the resources to help make our vision a reality. Our focus is to put more and more powerful tools into the hands of our customers, with which they can quickly and profoundly understand how the complex networks most important to them operate, and thus gain concrete financial benefits." added András Vicsek, co-founder and head of research.
Perion led this round of funding because it believes in Maven7's dynamic growth, and that the startup has a continued potential to become a multi-million dollar company. "We invested in Maven7 for its strength in leveraging and expanding the latest findings in network science, its proven ability to provide immediate business benefits. I am intrigued by what I have seen so far; Maven7 is in a very exciting space, bridging the ideas of enterprise intelligence, big data and social analytics, and can't wait to see how far it will go." explained Gábor Vitán, CEO of Perion.
Maven7 empowers strategic leaders to make better-informed decisions by introducing network science into the business planning process. Via its two distinct product suites, OrgMapper and Diktio Labs, Maven7 provides organizational network analysis to HR practitioners, online community and influencer mapping solutions to marketing professionals, and big data analytics.
Among its co-founders are some of the biggest names in network science, including award winning scientists, Albert-László Barabási and Tamás Vicsek, through whom the Budapest and Boston-based startup also has very close working relations with the prime academic think tanks of the discipline.
Maven7 opened its first overseas office in Boston last year, and already has a prominent presence on the European, Latin American and US markets.
Maven7 raised more than $750,000 from Primus Capital in seed in 2014, putting the current total investment at over $2.3M.
Perion is a member of Hungarian Venturio Group, with funds supported by the European investment fund initiative, JEREMIE. Perion aims to invest $16 million in promising Hungarian ventures during its investment phase ending in 2015. With the IT sector being one of its main focus areas, Maven7 is the 4th investment on the venture capital management company's portfolio.
Maven7 supports business decisions by transforming large amounts of hard-to-interpret data into actionable business intelligence. Based on the methodologies of network analysis and data mining, Maven7 has developed its own proprietary network mapping tools, including OrgMapper and Diktio Labs, to conduct analyses in organizational development, social media, the pharmaceutical/medical industries and many other fields.
About Diktio Labs
Diktio Labs takes marketing to a whole new level of targeting and efficiency by enabling organizations to know exactly who will prove receptive, influential and responsive to their messaging prior to a campaign launch. Diktio Labs works directly with end-user clients and also partners with a number of marketing advisors, consultancies and agencies to deliver its technology into a fully integrated campaign.
OrgMapper is an easy-to-use cloud-based software application developed to gather, measure and visualize organizational interrelations. Via organizational network analysis (ONA), it maps the human side of organizational processes; it reveals hidden informal employee networks, exposes critical connections, departmental and hierarchical links, uncovers the barriers to information flow, and identifies key individuals who connect departments and products, or are influential to their colleagues.
About Primus Capital
The Primus-managed Venture Capital Fund was launched in 2010 with $28M of core capital. It currently has 14 companies on its portfolio, all of which are built on innovative technologies and sell to international markets. Through the Primus-provided funding and expertise, Maven7 achieved a significant increase in value recently.