Black Swan Data – a data science and consumer behaviour prediction company – has closed an $18.5 million growth fundraise led by Oxx, a venture capital firm that backs Europe’s most promising B2B SaaS companies, with participation from existing investor AlbionVC.
The funding will be invested in developing more advanced features and capabilities in Trendscope, Black Swan’s core software platform, and continuing expansion in the US market.
By predicting consumer needs and trends with 89% accuracy rating more than six months into the future, Trendscope enables CPG (consumer packaged goods) companies to develop more relevant innovation ideas and improve their new product launch success rates (often cited as having a >75% failure rate).
Black Swan’s customers include Danone, Cosnova, J&J, Kraft Heinz, P&G and PepsiCo.
