GE, Accenture back analytics provider in $20M financing

Predixion Software has rounded up new investors and a partnership with Accenture ($ACN) to advance analytics in healthcare, life sciences and beyond. The San Juan Capistrano, CA-based company raised $20 million in a Series C financing, rallying support around technology that aids companies in finding useful insights from large amounts of data.

With machine-learning and semantic web methods, Predixion's software analyzes multiple types of data sets across industries. It has a growing presence in healthcare, where its analytics can be useful in chronic disease management, hospital readmission analysis and identifying at-risk patients. Though the company lists life sciences as one of its key industries, it provides less detail on how drug or medical device companies might use the software.

Two major global life sciences players have stepped up to back the company's third-round financing. Accenture and GE Ventures are both new strategic investors. Accenture aims to tap Predixion's technology for its own clients. Frost Venture was another new investor in the Series C round, and previous backers DFJ Frontier, EMC Miramar Venture Partners and Palomar Ventures invested in the financing deal.

Predixion has been on a roll. Though the privately held company didn't reveal actual sales figures, it says that its revenue closed in the first quarter of 2013 topped all revenue from last year by 30%.

- here's the release

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