Celect, a Boston-based company that offers a cloud-based predictive analytics SaaS platform for retailers, has closed $10 million in Series B funding. The investment was led by Activant Capital, with participation from Fung Capital and August Capital.

Celect is founded by MIT professors Vivek Farias and Devavrat Shah, and uses machine learning, which the company says allows retailers to better understand their customers’ buying patterns.

[Image courtesy: Celect]