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Wednesday April 23, 2014

‘Big Data’ Startup Raises 1M in Funding

Image representing Albert Azout as depicted in...

Albert Azout, CEO of Sociocast. Image via CrunchBase

The NY-based data and analytics startup Sociocast will be using its $1 million in new funding to hire new staff and expand it’s flagship Prediction API product, according to Venture Beat.

Prediction API claims to have an accuracy rate that is four to seven times as accurate as other solutions at seamlessly handling unstructured data and being flexible to customer specifics.

According to CEO Albert Azout, Sociocast is focusing on Prediction API because it has so much reach and application and could even aide the government analyze data in order to predict those who may commit crime or event help a media outlet predict amount of clicks content will receive. Orginially geared towards enterprise companies, it’s now being used by medium and small businesses with prices ranges from $39 to $749 a month.

Venture Beat