Co-founded by an Indiana University graduate, customer behaviour analytics software developer Zio has secured funding from two of the university’s venture funds.
Zio, a US-based retail customer behaviour analytics software developer co-founded by an Indiana University graduate, has secured $400,000 in a funding round backed by the university’s Philanthropic Venture Fund and Innovate Indiana Fund.
Both vehicles are operated by the institution’s tech transfer office, Indiana University Research and Technology Corp.
Zio has developed an analytics software platform that helps retail brands evaluate customer relationships so that they can enhance their lifetime value and manage churn risk – an industry term for losing customers.
The software predicts customer behaviour and presents the data in time sets common to retail, such as seasons. The capital will help Zio grow its headcount as well as its marketing and sales operations.
Zio previously received $450,000 of a targeted $1m equity round from undisclosed investors in October 2017, a year before it raised $100,000 of a targeted $750,000 equity round, according to…
