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US and Israel-based data analytics firm Personetics has raised $75 million in a funding round from private equity firm Warburg Pincus. Founded in 2010, Personetics provides what it calls a “predictive interaction solution” for financial institutions.
The system creates personalized customer experience across multiple channels, and uses real-time analytics to “accurately predict customer intent”.
The firm ranks among its backers high-profile firms Viola Ventures, Lightspeed Ventures, and Sequoia Capital. It has raised $93 million in total over five rounds.
Personetics says its software is used daily by more than 95 million customers. Its existing client base includes United Overseas Bank, Metro Bank, and Santander.
The firm also has a technology partnership with Microsoft, enabling deployment on the latter’s Azure cloud platform.
“The financial services industry is reaching a tipping–point in mobile adoption and setting a new standard [for engagement],” says CEO David Sosna.
“Personetics has set out down this path and has launched its vision of self-driving finance.
“We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions.”
Warburg Pincus financial services head for EMEA, Peter Deming, says Personetics uses “unrivalled AI technology.”
He adds: “David and his team have built the perfect solution for the post-COVID banking distribution model and already secured a world-class client base.”
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