US-based Personetics, an AI-driven platform that provides banks and financial services companies with tools for data-driven personalization and customer engagement, raised USD 85 million on 19th January 2022.
Investors: The investment round was led by Thoma Bravo, an investment firm specializing in software & AI. As of now, the startup has raised total funding of USD 160 million. The startup is supported by existing investors, including Viola Ventures, Lightspeed Ventures, Sequoia Capital, Nyca Partners, and Warburg Pincus.
Purpose of funding: The startup aims to expand its platform to financial institutions worldwide. It plans to reach more major clients in the existing regions.
About Personetics
Founded in 2010 by David Govrin, David Sosna, Personetics is headquartered in New York, US. Personetics is an AI-driven platform that provides banks and financial services companies with data-driven personalization and customer engagement tools. In addition to transforming passive digital adopters into active users, the company helps financial institutions reduce operational costs and improve their overall customer experience.
Their platform features include real-time analysis of financial data, understanding a person’s economic behaviour, anticipating their needs, and taking action on their behalf. Designed for retail banking, small business, wealth management, and cardholders, the startup offers customers enriched data, insights, financial advice, and automated wellness programs. The startup’s current clients include US Bank (US), Huntington Bank (USA), RBC (Canada), BMO (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan).
What the founder has to say
“Data-driven personalization and customer engagement is the battleground for financial institutions all over the world. Banks are increasingly moving from a passive to a proactive relationship with customers and are looking for new ways to help them improve their financial well-being. Personetics provides financial institutions with the most comprehensive engagement platform on the market, enabling agility and differentiation with an agile delivery for immediate business impact. We are excited to partner with Thoma Bravo, one of the world’s most experienced financial technology investors, to further drive this rapid growth and innovation. Together, we will deliver our vision of ‘self-driving finance’; reaching new partners and clients, while also supporting our existing customers with innovative business solutions that drive business impact,” said
What the investor has to say
“As the range and complexity of financial products continue to grow, Personetics simplifies and personalizes banking for consumers with its industry-leading AI technology. We are thrilled to partner with Personetics and leverage our operational expertise in software and financial technology to help accelerate the company’s momentum, the introduction of new products and technology, and the platform’s reach to financial institutions and their customers across the globe,” said Robert Sayle, a Partner at Thoma Bravo.
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