Flytxt, a big data analytics solution provider, has closed an $11 million funding round to finance its next phase of growth.
The investment was led by Sunrise Capital and Big Data Investments with participation from Flytxt’s existing investors.
Launched in 2008, Flytxt has previously received funding from a group of angels and family offices in Germany and The Netherlands.
The new investment will support Flytxt’s plans to consolidate its presence in the communication service provider (CSP) market and to offer mobile consumer analytics solutions to other industry verticals. The company plans to double its team through the next phase of growth.
Flytxt said its proprietary big data analytics solutions have enabled many leading global CSPs and brands to increase sales and revenues, optimize margins and enhance customer experience.
Flytxt now aims to grow its product portfolio for CSPs to generate higher economic value, and leverage its proven technology to expand to other industry verticals.