Israeli fintech company Personetics today announced it has raised $85m in growth funding from US private equity growth capital firm Thoma Bravo. Personetics raised $75 million in February 2021 from Warburg Pincus and other investors include Viola Ventures, Lightspeed Ventures, Sequoia Capital, and Nyca Partners.
Tel Aviv-based Personetics provides AI financial-data-driven personalization and customer engagement solutions for banks and financial services providers, enabling to target the needs of individual customers. The company’s platform is becoming a market standard in financial-data-driven personalization, customer engagement and money management for global financial institutions. Personetics partners with financial institutions to boost financial services by integrating automated intelligence into every customer interaction, creating significant business impact in months. Financial Institutions using Personetics’ AI software see an increase of up to 35% in digital customer engagement, a 20% increase in account and balance growth; and a 17% increase in the adoption of personalized product recommendations and advice.
Warburg Pincus invests $75m in fintech co Personetics
Clients include many of the world’s leading banks, such as U.S. Bank (US), Huntington Bank (US), RBC (Canada), BMO (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan).
Personetics cofounder and CEO David Sosna said, “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 quick business impact.”
Thoma Bravo partner Robert Sayle added, “As the range and complexity of financial products continues to grow, Personetics simplifies and personalizes banking for consumers with its industry-leading AI technology.”
Published by Globes, Israel business news – en.globes.co.il – on January 19, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.