Pecan AI offers a low-code predictive modeling and data science platform that lets BI analysts turn large transactional datasets into accurate forecasts and recommendations without hiring data scientists. The platform automates data preparation, feature engineering, and model training to accelerate delivery of predictions for KPIs such as customer lifetime value, retention, demand forecasting, and pricing. Pecan says its predictions impact billions of dollars in revenue across fintech, insurance, retail, CPG, mobile apps, and consumer services. The company reported it more than tripled its annual recurring revenue over the last year. It plans to use the new funding to scale its global footprint and accelerate research and development of its predictive analytics automation. Founded in 2018 and operating from New York and Tel Aviv, Pecan’s stated mission is to democratize AI-powered predictive analytics for business users. Pecan.ai offers a no-code platform that automates data encoding, restructuring, cleansing, feature engineering and model selection to produce AI-based predictive algorithms from multiple deep neural networks. Using evolutionary computation, the platform runs recursive competitions between network variants and selects a single fully trained neural network optimized for accuracy. Pecan supports a range of data formats, provides dashboards and continuous model monitoring, and can output predictions to third-party software. Targeted use cases include demand forecasting, conversion, lifetime value, next-best-offer, VIP customer identification, upsell/cross-sell, churn/retention, and sales analytics. The company has offices in New York and Tel Aviv and came out of stealth in February of last year, saying the pandemic boosted demand for its product. Pecan plans to expand operations globally and help organizations adopt AI and big data. Financially, it has raised a $35M Series B and has more than $50M in total funding to date, following an $11M Series A in January 2020. Pecan.ai provides an automated machine-learning platform that handles data preparation, engineering and processing so business analysts can build models without heavy technical expertise. The product offers templates for common questions—customer analytics like churn and business operations topics such as risk or fraud—and also supports custom templates for advanced users. Users point Pecan to a data source (database, data lake or CRM) and the platform connects, pulls data into a dashboard, and can export models or update data repositories automatically. The founders began building the platform in 2016 and have worked with beta customers for roughly 18 months prior to coming out of stealth. Management plans include opening a sales and marketing office in New York City while keeping engineering in Tel Aviv. The company has raised external capital to support go-to-market efforts, including a recent Series A.

Total raised

$112M

Funding rounds

3

Latest round

Series C

Latest activity

Feb 2022