Venture Capital News: Personetics Secures $11.5M in Series B
NEW YORK, NY, Leading provider of predictive customer engagement solutions for the banking industry, today announced that it has completed its series B funding of $11.5 million.
Personetics, a leading provider of predictive customer engagement solutions for the banking industry, today announced that it has completed its series B funding of $11.5 million. Lightspeed Venture Partners led the second round of funding joined by Personetics' existing investors Sequoia Capital and Carmel Ventures. This investment will be used to drive sales and scale operations to meet the growing demand for predictive solutions that transform the digital experience for banking customers. Following the series B funding, Yoni Cheifetz, partner at Lightspeed Venture Partners, will join the Personetics board.
"This round of funding is a significant milestone for Personetics that confirms the huge value and potential of our offering, and our ability to deliver our solutions across the financial services industry," said David Sosna, CEO of Personetics. "Personalizing the customer experience is a key initiative for banks as they look for ways to fully realize the benefits digital channels provide."
Personetics' predictive banking solutions are transforming the way digital channels are being used " delivering highly-personalized, timely and relevant experiences to the consumer. Its breakthrough technology leverages customer data and crowd sourcing analytics to create a real-time, robust customer view that can accurately predict customer intent and offer personalized services and recommendations.
"We are confident that the addition of a top-tier firm such as Lightspeed to our already strong list of backers will allow us to capitalize on our early successes and help us become the largest provider of predictive interaction technology to the financial services industry," added Sosna.
Cheifetz said, "We engaged with Personetics and its existing investors because we were impressed with their technology, the high level of expertise the Personetics' management team brings to the table, and their ability to deliver a solution to the financial sector that provides immediate value to their customers while reducing customer services costs."
About Lightspeed Venture Partners
Lightspeed Venture Partners is a leading venture capital firm with over $2 billion of committed capital under management and investment professionals and advisors in Silicon Valley, India, Israel and China with Lightspeed China Partners. Over the past two decades, Lightspeed partners have backed more than 200 consumer, enterprise and cleantech companies, many of which have become leaders in their respective markets, including Blue Nile, Brocade, Ciena, DoubleClick, eHealth, Flixster, Fusion-io, Informatica, Kosmix, LivingSocial, Lucky Pai, Nicira, Playdom, Pliant Technology, Provigent, Riverbed Technology, Solazyme, TutorVista, Virsa Systems, Waveset, and XtremIO. http://lsvp.com
Personetics offers a predictive interaction solution designed specifically for the financial services industry. The company is dedicated to helping all types of financial institutions deliver a more personalized customer experience across all service channels, especially online, mobile and tablet. The solution comes pre-loaded with a comprehensive library of banking-specific predictions and solutions and leverages a real-time analytics engine to accurately predict customer intent. Personetics gives financial institutions the power to convert passive digital adopters into active digital users while improving their overall customer experience and reducing operational costs for the institution.
Personetics is backed by Carmel Ventures, Sequoia Capital and Lightspeed Venture Capital and is headquartered in New York with offices in Tokyo and Tel Aviv. For more information, visit http://www.personetics.com/.
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