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. Worth noting, all of BigProfiles activities are taken in compliance with the European Privacy Legislation Laws.
Originally created as part of CEO and Co-Founder Lorenzo Luce’s Ph.D. studies, BigProfiles was launched from LVenture Group’s Acceleration Programme. Luce is also Member of the Commission of Experts on Artificial Intelligence for the Italian Ministry of Economic Development and took part in the Italian delegation to the latest G7 on Artificial Intelligence.
“BigProfiles is one of the most promising Italian startups in the Artificial Intelligence sector, with a proprietary technology that offers to client companies a great competitive advantage. LVenture Group strongly believes in its further growth potential and this new investment round will strengthen its leadership in the Italian Marketing Intelligence market and support the international expansion”, said Luigi Capello, CEO of LVenture Group.
“This new investment round will allow us to keep investing in growth and in the future development of new successful products. 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.