BigProfiles, a Rome-based marketing intelligence platform, has raised €1.5 million round led by Italian VC firms, Invitalia Ventures and LVenture Group.
The B2B SaaS platform uses artificial intelligence to help companies profile their customers and predict consumer behavior. The profiles are populated from open data sources and social networks (accessed via commercial agreements), and provide over 250 attributes about income, wealth, education, consumption patterns, interests, etc.
The company claims the profiles are anonymous and its business practices comply with European Privacy Legislation Laws. Its clients report sales increases of up to 150 percent.
Launched after LVenture Group’s acceleration program in 2017, the Italian startup raised €600,000 that year. Co-Founder and CEO Lorenzo Luce is a member of the Commission of Experts on Artificial Intelligence for the Italian Ministry of Economic Development, and was part of the Italian delegation to the latest G7 on artificial intelligence.