Sociocast raised $1 million in funding from New York’s Raptor Ventures, bringing its total to nearly $6 million. As CEO and founder Albert Azout told Sean Ludwig at Venturebeat, the Prediction API is useful to advertising, social and gaming, retail, finance and government,
"The Prediction API claims to provide “an accuracy rate of four to seven times more precise than existing solutions, seamlessly handles unstructured data, such as URLs and text, and is flexible to handle customer-specific data schema.”
In the social and game arena, for example, Sociocast can be used for multidimensional social graphs, augment cross-promotion efforts, identify valuable users, and cluster behavioral data.
Just what can clients do with the prediction API? Among Sociocast's answers are optimizing real time ad campaigns, focus the content shown to customers based on customized predictive criteria, and create personalized offers for customers.
According to the press release, Sociocast can now offer customized predictions that can be integrated into real time with ad servers, content optimization, A/B testing, and other aspects,
"Sociocast's Prediction API presents an unprecedented accuracy rate of 4 to 7 times more precise than existing solutions, seamlessly handles unstructured data, such as URLs and text, and is flexible to handle customer-specific data schemas. Additionally, the new technology easily integrates with Optimizely, Google DoubleClick, Adobe Test&Target, Tealium, Monetate, AppNexus, Krux, and many other third-party platforms."
This amounts, in essence, to a "frictionless approach" for the industry.
The kicker: Sociocast promises to deliver solutions that no one else can at a tenth the price of its competitors. For customers, this boils down to something anyone can understand: speed, price, accuracy.
Small wonder, then, that Sociocast is headed for a larger round of funding in Q3.