Personetics Scores $85 Million in Growth Funding

Courtesy of an investment from Thoma Bravo, personalization and customer-engagement solution provider for financial services companies Personetics has raised $85 million in growth funding. Updated valuation information was not disclosed.

Calling data-driven personalization and customer engagement “the battleground for financial institutions” worldwide, Personetics CEO and co-founder David Sosna said that banks and financial services providers are rightly moving toward a more proactive relationship with their customers. “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,” Sosna said.

Personetics’ technology boosts customer engagement by analyzing financial data in real-time, learning financial behaviors, anticipating needs, and then acting on the user’s behalf. The company’s enriched data, actionable insights, financial advice, and automated wellness solutions can be used by retail banks, small businesses, wealth management firms and others to increase digital customer engagement by as much as 35%, account and balance growth of 20%, and realize gains of 17% in the adoption of personalized recommendations and advice.

Making its Finovate debut in 2016 at FinovateEurope in London, Personetics raised more than $160 million in funding last year from investors including Viola Ventures, Lightspeed Ventures, Sequoia Capital, Nyca Partners, and Warburg Pincus. In the fall of 2021, the company announced a partnership with Europe-based financial services group KBC to increase customer engagement on the firm’s mobile app. Last spring, Personetics unveiled its patented, automated cash-flow based savings solutionPay Yourself First – which has been integrated into U.S. Bank’s mobile app. Note that U.S. Bank won Best Customer Experience at the Finovate awards in 2019 for its mobile banking technology.

“Personetics’ PYF intelligent algorithms take the guesswork out of setting money aside for saving or investing and acts on behalf of customers,” Personetics President for Americas Jody Bhagat said. “It’s another example of how Personetics is helping financial institutions deliver hyper-personalized solutions for their customers, and bringing to reality its vision of Self-Driving Finance.”