Predictive analytics firm Endor raises $45m in ICO
Predictive analytics company Endor has raised $45 million in an initial coin offering (CO) that was launched just last month, reports David Penn at Finovate.
The company says: “Our motivation was to allow as many contributors as possible to participate, which was achieved by significantly limiting the individual contribution amounts. This torrent of support allowed us to reach our pre-defined cap of $45 million.”
More than a funding source, Endor’s ICO will also be the key to accessing the company’s platform.
Known as “Google for predictive analytics,” Endor combines computing and MIT-developed proprietary social physics technology to create a platform that responds to questions asked in plain language with automated accurate predictions. This is accomplished without requiring coding experience or expertise in data science. And after the company’s ICO, all that businesses will need in order to take advantage of the new technology is a pocket full of EDR, the company’s cryptocurrency tokens.
The company has developed the Endor.coin protocol to help “democratise data science,” specifically by making predictive analytics more accessible to SMEs.
Endor issued 1.5 billion EDR tokens, with 20% of the total available as part of the ICO. The company says that 40% of the tokens generated will be used to finance R&D efforts. The tokens were initially priced at $0.27.
Endor is headquartered in Tel Aviv. Yaniv Altshuler is co-founder and CEO, having taken the helm from Doron Alter who transitioned to the position of company chairman at the beginning of the year.
Endor includes Coca-Cola, Twitter, and Mastercard among its clients and is partnered with fellow Finovate alum, Market Prophit.
