Customer analytics company Xtract has secured 2 million in growth
capital funding from Eqvitec  Technology Fund III, one of the largest
technology-focused funds in Northern Europe, A second round of growth
funding is expected to be raised later in 2007.   
Xtract specialises in automated customer analytics solutions, enabling
the analysis and prediction of events supporting targeted advertising
in online communities and social networks. The funding will be used to
further expand internationally, growing the customer base for the
Xtract proprietary solutions, which include mobile advertising
solutions to advertisers, as well as community and social networking
analytics.
Xtract started selling its customer analytics and community analytics
solutions less than 12 months ago and has already signed a great number
of international operator contracts worldwide says Eqvitec Senior
Partner Juha Mikkola. The company offering is clearly unique, the
business cases behind the solutions are obvious and the customer
benefits are immediate. This funding, with planned additional funding
later, will boost Xtracts growth opportunities even further.   
Jouko Ahvenainen, Chairman and founder of Xtract, says he is delighted
by the confidence Eqvitec has shown in the company. We are excited by
the support we are getting to pursue our international footprint and
the further development of our offering he says. We have been keen to
work with Eqvitec Partners as they clearly have the experience and the
competence to work with companies like ours. We share the same
understanding and vision for Xtracts huge opportunities in social
network analytics and mobile advertising solutions.”