Activate Networks Inc., a Newton-based provider of network analytics for business, said Tuesday that it has closed a $10 million Series B financing round led by Reed Elsevier Ventures, along with existing investor Excel Venture Management and new investor Premier healthcare alliance.
“The financing will allow us to accelerate our growth and maintain our leading position in network analytics for enterprises,” Activate Networks chief executive Larry Miller said in a statement. “As more companies seek to generate value from their existing Big Data, Activate Networks’ software and predictive analytics will provide a unique and highly valuable network ‘lens.’”
By mapping networks of customers and analyzing influence patterns, Activate Networks said it is able to increase sales effectiveness and efficiency through improved sales targeting optimization.
The firm has raised $15 million to date, a company spokeswoman said.