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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Consumer prediction platform closes Series A financing, doubles headcount

July 19, 2021 GMT
(PRNewsfoto/Faraday)
(PRNewsfoto/Faraday)

BURLINGTON, Vt., July 19, 2021 /PRNewswire/ -- Faraday announced its latest funding round today. The company is expanding its data science, engineering, and revenue teams to strengthen its position as the leading provider of consumer behavior predictions. The company’s Prediction Cloud offers a codeless environment for brands looking to leverage responsible AI for customer acquisition, engagement, and retention.

With growing concerns around a cookie-less future, brands are scrambling to diversify their marketing tactics without sacrificing performance. Faraday gives growth teams and their partners the predictions they need to enhance targeting, personalization, and engagement strategies across their channel portfolios.

“The writing is on the wall: consumers are engaging with brands that share their values—that connect with them on a personal level. We’ve spent the last decade perfecting how to predict consumer behavior, not only accurately but ethically,” said Faraday CEO Andy Rossmeissl. “Faraday’s prediction cloud lets brands strengthen their competitive edge in our increasingly privacy-conscious consumer economy.”

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Intercap led the $4.1 million financing, with CEO Jason Chapnik joining Faraday’s board of directors. Previous investors FreshTracks Capital and Launch Capital also participated. The company has raised $12 million total since its founding in 2012.

About Faraday
Faraday (faraday.ai) helps teams grow closer to their customers through responsible data and ethical AI. The Faraday Prediction Cloud lets growth teams and their partners easily make and deploy consumer behavior predictions throughout their tech stacks, radically improving targeting, personalization, and customer engagement efforts at scale.

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SOURCE Faraday