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March 23, 2005

Valen Technologies gets fresh funding

Valen Technologies, a Denver, Colorado-based developer of predictive analytics software used mainly for risk management applications widely used by insurance firms, has landed its first institutional round of funding.

By CBR Staff Writer

Valen did not disclose the amount of working capital raised, saying only that it would be used to fuel product development and sharpen its operational focus on the insurance sector. The funding was led by Appian Ventures.

The company first launched its Risk Manager platform in 2003 which uses a mixture of statistical learning theory and complex algorithms to discover and match and uncover relationships in data to predict risk.

In addition to insurance, the company’s solutions also target financial services, bio-tech, oil and gas and transportation firms.

Valens certainly seems to be gearing up to make an assault on some of the larger and more established predictive analytics and so-called decision management vendors.

Last month the company beefed up its scientific engineering team by appointing Gary Haith, formerly the technical architecture manager of Fair Isaac which also specializes in high-end analytical and decsioning solutions, to direct its analytic and predictive modeling and analysis applications.

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