Italian tech startup BigProfiles scores $1.6M funding to help companies grow their customer base using AI

BigProfiles, an Italian startup and a provider of SaaS B2B platform that enables companies to profile their customers and predict their behaviors with its proprietary Artificial Intelligence solutions, has closed $1.6 million (€1.5 million) investment to strengthen its leadership in the Italian Marketing Intelligence sector and acelerate further international expansion growth. The round was led by existing investors Invitalia Ventures, LVenture Group and various business angels.

Founded in 2016 by CEO and Co-Founder Lorenzo Luce’s Ph.D., the Rome-based BigProfiles was launched in 2017 from LVenture Group’s Acceleration Program, and closed that same year a previous capital increase of 600.000,00 Euros. Luce is also Member of the Commission of Experts on Artificial Intelligence for the Italian Ministry of Economic Development and took part in the Italian delegation to the latest G7 on Artificial Intelligence.

BigProfiles offers analytics and AI based marketing intelligence services for companies. Thanks to a number of commercial agreements that guarantee access to aggregated data from social networks and Open Data sources, BigProfiles creates an anonymous profile for each consumer with over 250 probabilistic indicators on income, wealth, education, consumption, interests and much more.

By applying Machine Learning and Artificial Intelligence algorithms on these anonymous profiles, BigProfiles predicts the chance for purchase, loss or other related behaviors of each companies’ client or prospect. All BigProfiles activities are taken in compliance with the European Privacy Legislation Laws.

The startup’s results speak for themselves: the client companies have recorded sales increases of up to 150% by applying BigProfiles technology. BigProfiles operates in the sector of Artificial Intelligence software, with a global value of 14 billion dollars and a 35% CAGR (Tractica, 2019), where the segment of Marketing Intelligence has now reached a global value of over 2 billion dollars.

Commenting on the funding, Luigi Capello, CEO of LVenture Group, said: “BigProfiles is one of the most promising Italian startups in the Artificial Intelligence sector, with a proprietary technology that offers to client companies a great competitive advantage. LVenture Group strongly believes in its further growth potential and this new investment round will strengthen its leadership in the Italian Marketing Intelligence market and support the international expansion.”

“This new investment round will allow us to keep investing in growth and in the future development of new successful products. Our goal is to enable radical innovation in marketing, sales, and CRM strategies, thanks to our proprietary technology able to predict the customers’ behaviors”, said Lorenzo Luce, CEO of BigProfiles.