Personetics secures $75 million investment from Warburg Pincus
By Edil Corneille
Today, New York-based Personetics, a global provider of data-driven personalization and customer engagement solutions for banks and financial services providers, announced the raise of $75m in growth funding from Warburg Pincus, a global private equity firm focused on growth investing. Personetics is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners.
Personetics offers a proprietary AI software platform to banks. Its software touches more than 95 million personal banking customers and analyzes billions of transactions daily. Personetics analyses customer financial data and behavior in real-time, with the data staying safely inside the bank’s ecosystem so that confidentiality is guaranteed.
Banks use Personetics’ agile tools and its low-code Engagement Builder, a Creation & Management Console, to quickly modify hundreds of pre-programmed insights and build customized user journeys.
Flagship clients include U.S. Bank (US), RBC (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan).
David Sosna, CEO and Co-Founder of Personetics, said: “The financial services industry is reaching a tipping–point in mobile adoption and setting a new standard in Smart Personalized Engagement. 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. We are very excited to be partnering with Warburg Pincus on this journey”.
Peter Deming, Managing Director at Warburg Pincus and Head of Financial Services across EMEA, said: “Personetics leverages an unrivaled AI technology which is badly needed by established banks as they seek to differentiate themselves in a crowded market and match the customer experience of the Neobanks and FinTech apps. David and his team have built the perfect solution for the post-COVID banking distribution model and already secured a world-class client base. Through the combination of our financial backing and Warburg Pincus’ extensive global network across financial services, Personetics can distribute its unique technology into banks all over the world”.
Avi Zeevi, Co-founder of Viola Ventures and Personetics’ Chairman, said: “We are happy to join forces with Warburg Pincus, a renowned international investor with an extensive global network and track record of success in the financial services and FinTech sectors. This is further proof of Israel’s ability to generate leading global FinTech companies and for Personetics’ immense potential for disruption across the global banking ecosystem.”
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