Swansea predictive analytics service company expects strong growth with backing of Finance Wales and angel syndicate
Many companies collect and store large amounts of data using
expensive computer systems. They often don’t have the
capabilities to capitalise on it by turning it into actionable
insights to identify cost savings, make product and services
improvements or resolve problems at the earliest opportunity.
Now, We Predict, the award-winning company whose revolutionary
software platform analyses large volumes of data for some of the
world’s biggest automotive companies is expanding with the backing
of a £1.25 million equity investment from Finance Wales and a group
of business angels.
Finance Wales has invested £500,000 from the Wales JEREMIE Fund,
alongside the group of business angels who have previously invested
in the company, to help We Predict expand in the UK as well as in
the USA, where it has recently established a sales team.
Headquartered at its R&D centre in Swansea’s Technium 1, We
Predict employs mathematicians, statisticians and computer
scientists who work alongside domain experts using the most
relevant tools and techniques to deliver impressive results for
blue-chip clients like Honda, Bombardier and Kostal.
Established in 2009 by Chief Executive, James Davies the company
initially focused on the automotive and related industries.
Building on this success We Pedict has also expanded into the
security and health sectors, delivering predictive analytics to aid
commissioning decision-making in the NHS and crime prevention for
two of the UK’s Police forces.
James Davies, Chief Executive said: “We Predict is at an
exciting point in its journey following several consecutive years
where revenue growth has exceeded 200%, which we are set to improve
upon again this year. The combination of our unique predictive
models, industry experts and service business model has put us at
the forefront of the emerging industry of predictive analytics as a
“Our customers’ data is rich and contains valuable insights that
can help them to implement significant business improvements and
achieve considerable cost savings. We Predict’s service is a
cost effective way for customers to understand their data in more
detail and to make better informed strategic decisions.”
Welcoming Finance Wales’ investment, Davies continued: “We
welcome Finance Wales to the team as our first institutional
investor and expect to add further capital and expertise with a
substantial Series A fundraising later this year. Having Finance
Wales as our first institutional investor is invaluable for us as
we look forward to benefitting from their expertise as we continue
We Predict’s cost-effective service-based model, which uses the
latest sophisticated analytical tools and techniques, is already
Former General Motors Chief Executive, investor and company
adviser, Rick Wagoner said: "James and the team at We Predict have
an opportunity to significantly improve product safety and quality
with their innovative predictive analytics service. I am really
looking forward to working with them and supporting their growth in
the auto and other sectors".
Investment Executive, Dr Richard Thompson from Finance Wales’
technology ventures investment team structured the We Predict
investment. He said: “In just over 5 years James and
his team have developed an innovative platform which is now
well-proven, impresses customers and outperforms the
competition. We Predict has also established a strong
presence in the automotive sector and is growing rapidly.
“We Predict’s platform has exciting potential in other sectors
such as the healthcare sector, where it can offer a range of
potential benefits. This funding package is pivotal for them and
will help fund their anticipated rapid growth into new territories
and new sectors.”
Product failure and warranties cost the global automotive
industry around $70bn a year and We Predict believes that its
services could significantly reduce these costs while improving
customer retention and minimising corporate risk.