Central regions | Finance, business | Retail, FMCG
Moscow invests in predictive analytics
8 Feb '19
The Moscow Seed Fund, the early-stage fund owned by the city government, has invested $123,000 in First data, a media platform that analyzes users’ purchases and builds predictive hypotheses regarding interest in goods or services being advertised, Firrma.ru reported.
The platform can look for high conversion rate audiences at the largest Internet venues, including Facebook, Google, Yandex, VKontakte or Mail.ru. Last year the young developer is said to have completed more than 100 advertising campaigns for sizable advertisers from such sectors as pharma, FMCG, telecom, movies, children’s goods, and automobiles.
The new investment will be used to scale up the business and enhance the technology, including an increase in categorization accuracy and the volume of data processed, and the use of artificial intelligence in predictive analysis. The effort is expected to step up the platform’s level of automation considerably and help the project get a stronger foothold in the Russian market.
In late 2018, First data raised $154,000 from another major government entity, the federal Internet Initiatives Development Fund (IIDF, aka FRII).