LOUISVILLE, KY (March 22, 2016) – Chrysalis, a leading source of equity capital for growth companies in the Midwest and South, today announced that it has led a $2.4 million investment in Louisville-based Edj Analytics, a provider of game-based data-driven decision support solutions. The company will use the investment to build out its team, expand in its current markets, and explore select new opportunities.
Edj was founded in 2013 by Frank Frigo, former commodity trader and world backgammon champion, astrophysicist Chuck Bower, and Sean O’Leary, former co-founder and CEO of Genscape, an information service that sells proprietary data on power plant output to energy traders. Chrysalis also invested in Genscape in 2001, prior to its sale to GFI Energy Ventures. Genscape was subsequently sold to DMG Information for $136 million.
“I am thrilled to be working with Sean again,” said Wright Steenrod, partner at Chrysalis. “Sean has a track record of success in building information companies that help businesses make better decisions. Edj’s heavy analytics focus is the logical next step for creating value with information.”
Edj provides decision analytics and support through predictive models that improve the decision-making process and reduce decision time, complexity, and uncertainty. Because not all problems are created equally, Edj uses a customized approach to help their clients identify solutions to critical, urgent and complex issues. Edj’s predictive models are unique in that they allow the decision-maker to simulate several possible outcomes and identify the optimal approach. Thus empowering the decision-maker to make smarter choices with greater confidence. Zeus, Edj’s initial model, has demonstrated the ability for NFL teams to increase game winning chances when using Zeus to call plays in critical situations. Edj is currently deploying its proven approach to help universities increase student retention rates and leading hospital systems to reduce readmission rates, specifically with congestive heart failure patients.
“The human brain is not capable of making completely rational and unbiased decisions about complicated issues on a consistent basis. When time is of the essence, it’s even more difficult for our brains to operate at optimal levels,” said Sean O’Leary, CEO of Edj Analytics. “Fortunately computing power has allowed us to make better decisions through the use of data and proprietary tools. This capital infusion will allow us to continue to apply our proven methodology and have a positive impact in areas of great importance.”
Wright Steenrod will serve on the company’s board of directors.
Chrysalis manages one of Mid-America’s largest funds for early-stage and growth investments with approximately $400 million under management. Since 1993, we have invested in 70 companies, primarily in the Healthcare and Technology sectors. Headquartered in Louisville, Kentucky, Chrysalis seeks to partner with entrepreneurs to build enduring businesses in industries undergoing significant transformation. For more information, please visit www.chrysalisventures.com.
About Edj Analytics
Edj provides decision analytics and support that empowers smarter decision-making for organizations facing complex, critical issues. Founded in 2013 and based in Louisville, Kentucky, Edj has developed predictive models with partners in healthcare, higher education and commodities trading. As a start-up, Edj quickly earned recognition for Zeus, a predictive model for football play-calling and player rankings for the NFL. Co-founded by Sean O’Leary, Frank Frigo, and Chuck Bower, the company is dedicated to focusing its energy and efforts on solving complex issues that make a difference. For more information, visit www.EdjAnalytics.com.