Trove Predictive Data Science
Industry: Advanced Business Services
Jobs: 40
Investment: $771,000
Company Overview: TROVE Predictive Data Science was spun out of not-for-profit CUBRC, a leading Research, Development, Testing and Systems Integration company located in the Buffalo Niagara region, which had developed a novel technology in the field of data fusion. Today, many companies, such as public utilities and telecommunications companies, have massive amounts of data that they collect in their normal business. TROVE Predictive Data Science was formed utilizing this technology to deliver analytical solutions and data-driven insights to its customers. Thier multi-source data fusion technology combines internal customer data with over 2,000 attributes of external third-party data.
Project Challenge: In order to fully commercialize this technology and expand the company to its full potential, TROVE was in need of an infusion of capital to facilitate a significant expansion, which could have taken place in Buffalo Niagara or elsewhere in the country. When two investor companies, both located in Spokane, WA, were identified and entered into negotiations with TROVE, it became apparent that if a deal were to be struck making the Spokane-based companies majority owners, TROVE and its aggressive growth strategy could relocate to the West Coast.
Project Solution: Invest Buffalo Niagara worked directly with the TROVE leadership, putting forth a strong, data-driven argument as to why the Buffalo Niagara region is the ideal location for TROVE to grow. We provided an extensive data package, comparing the Buffalo region to that of Spokane on a series of levels. Additionally, we coordinated the incentives process, culminating in an offer from Empire State Development of up to $600,000 Excelsior tax credits. This confluence of factors convinced the new investor companies that Buffalo Niagara was indeed the ideal location for TROVE’s technical center. TROVE is planning to invest $771,000 into the region and create 36 new high-tech jobs, as well as retaining the four jobs that had been created in TROVE’s early stages.