Rome-based BigProfiles raises €1.5 million to help companies profile their customers using AI
Summary
The Italian startup BigProfiles, which enables companies to profile their customers and predict their behaviors via AI, has closed a new 1.5 million round, led by existing investors Invitalia Ventures, LVenture Group and various business angels.BigProfiles, founded in 2016, has been on our radar recently in our list of 10 Italian startups to watch in 2019 and beyond. The Rome-based startup team offers customer profiling services to enterprises, to help them better understand and serve their customers, and increase sales by up to 150%.By making use of aggregated data from social networks and open data sources, which are available thanks to a number of commercial agreements, BigProfile is able to create an anonymous profile for each consumer. Each profile includes over 250 probable indicators on income, wealth, education, consumption, interests and much more. Applying machine learning and AI algorithms to these anonymous profiles lets BigProfiles predict the chance for purchase, loss or other related behaviours. Our goal is to enable radical innovation in marketing, sales, and CRM strategies, thanks to our proprietary technology able to predict the customers behaviours, said Lorenzo Luce, CEO of BigProfiles.