Press Release: Accelerated Adoption of Predictive Technology Fuels Rising Customer InvestmentsInfer Inc., a leading provider of predictive technologies that help companies win more customers, today announced a 500 percent jump in existing customer spend over the past quarter. Much of this growth was driven by adoption of the new Infer Prospect Management Platform, launched in November 2015. In addition, last quarter the company closed its highest ever increase in new annual recurring revenue (ARR).
Over the past year, Infer grew its community to well over 100 paying customers, closing new annual contracts with companies like Act-On, Belly, Intacct, Looker and Pandora. The company also continues to increase contract values with its long-term customers, and computed nearly 300 million predictions last quarter – representing a 150 percent quarter-over-quarter increase. Infer customers consistently report stellar results as they operationalize predictive sales and marketing. For example, Concur recently won CRM Magazine’s “Market Elite” award for its use of Infer to triple lead conversions.
“As a result of our hyper-focus on customer success, we’ve built up significant tribal wisdom around how to build useful predictive applications powered by our scores, and how to make those applications sticky via seamless integrations with existing workflows,” said Vik Singh, co-founder and CEO of Infer. “Year after year our customers have proven the value of predictive by leveraging our applications to drive clear ROI – leading to our high logo retention rate and increases in upsell dollars.”
Amplifying the Value of Predictive Marketing and Sales
Last quarter, Infer launched the first-ever AI-powered prospect management platform. Infer Prospect Management adds value to predictive scoring by allowing companies to combine all of their buying signals into data-rich, descriptive and actionable profiles. This unique approach delivers key prospect information at-a-glance in order to help sales and marketing teams deliver more personalized engagement and a better customer experience.
“The great thing about Infer is that it’s so much more than just predictive scoring. With prospect management, the platform becomes even more actionable – we’ll never go back to the old-school lead volume mindset,” said Trevor Lynn, chief marketing officer at Social Tables. “Infer Prospect Management has completely opened our eyes to our highest-converting profiles, so that now we can be more strategic about where we put our marketing dollars in order to perfect our program and channel mix. As a result, we’ve been able to increase average deal sizes by over 10% and increase our volume of new qualified opportunities by 25%.”
Infer also augmented its core predictive technology with several new capabilities in 2015, including net new lead generation, account scoring, behavior scoring and market expansion offerings. Infer is now the highest rated predictive vendor on G2 Crowd for B2B Predictive Analytics and Account-Based Marketing solutions, with more positive verified online customer reviews than any other technology in the space.
Extending the Infer Partner Ecosystem
Infer continues to add new data partnerships and integrations to its portfolio. Last year, Infer signed new deals with a number of firmographic, technographic, and intent data vendors. In addition, sales analytics application InsightSquared and top sales acceleration and advertising tools are integrating with the Infer platform. Finally, the company maintains pre-built connectors for Salesforce, Eloqua, Marketo, Pardot, and now HubSpot.
Founded in 2010, Infer delivers a predictive-first platform that helps companies win more customers. It leverages proven data science to rapidly model the untapped data sitting in enterprises, along with thousands of signals from the web. Customers include several large enterprises and numerous high growth companies like AdRoll, Atlassian, Cloudera, Concur, New Relic, Tableau, Xactly and Zendesk. Headquartered in Mountain View, California, Infer is funded by leading investors, including Redpoint Ventures, Andreessen Horowitz, Social+Capital Partnership, Sutter Hill Ventures and Nexus Venture Partners.