Dutch Analytics collects financing from Rabobank to further develop its software platform Xenia. The platform of Dutch Analytics helps companies to operationalize, manage and integrate data science models in an accessible way with existing IT systems. With the aim to accelerate the time-to-market of data-driven applications and to save significant IT costs for companies.
The financing from the Rabobank Startup & Scale-Up Team is an addition to the investment that Dutch Analytics received at the end of 2019 from, among others, investor Global Founders Capital. “Rabobank as a new partner is a welcome addition, also in view of their strong position in relevant industries in the Netherlands,” says CEO Yannick Maltha.
Rabobank supports innovative companies and sees the social and economic importance of startups and scale-ups. The bank founded the Startup & Scale-up team, especially for this target group. Fabian Groeneveld and Robbert Lut work in the team from the Delft – The Hague region and explain: “We believe that the technology of Dutch Analytics has the potential to create longer-term value for companies. Many organizations are committed to data science and AI, but they are struggling to put it into practice to create the promised value, that’s where Dutch Analytics comes into play.”
Dutch Analytics, founded in December 2016, has grown rapidly and now consists of a team of 20 employees. The Xenia platform delivers value to those companies who are struggling to get their data science models in operation. This often requires in-depth knowledge of cloud technology and software development. As a result, most of the models are never put into use.
“We know from our own experience that developing data-driven models is only half of the solution,” said CEO Yannick Maltha. “The other half is developing infrastructure to get models operational, manage them, and then share them. This applies to both advanced models such as machine learning, but also code for statistical models and calculations. Think of a data science team within an insurer that wants to fight fraud, or a retailer’s webshop that has to process orders 24/7 to serve their customers as quickly as possible.”
“Ultimately, our goal is simple. There is a great shortage of data scientists. Let’s make sure that their time is best spent where they are needed, namely doing data science,” says Yannick Maltha.
By offering a product that addresses this problem, the company enables both small and large companies to deploy their models and scripts in a simple and scalable manner and connect them to existing systems. “To show that things can be done differently, we have developed a free trial version of Xenia. Where individuals and companies can start operationalizing their data science code within a minute, without requiring extensive experience with cloud technologies,” says CTO Victor Pereboom.