Stratyfy, an award winning innovator of machine learning solutions that mitigate risk, remove bias and enable inclusive lending for financial institutions, announces funding totaling $10 million from prominent investors. The round is co-led by Truist Ventures and Zeal Capital Partners and includes prominent investors such as Mendon Venture Partners, The 98, FIS, and serial entrepreneur Barry J. Glick.
“Stratyfy is growing fast as financial institutions recognize the urgent need to improve transparency and reduce bias in their decision processes. With increased adoption of AI and machine learning, transparency and controls around these solutions are essential so that the biases of our past do not encode into our future,” said Laura Kornhauser, Co-founder and CEO of Stratyfy. “Our investors share our vision and understand the complex needs of our customers. We are uniquely positioned to address these needs with our proven technology and talented team.”
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Stratyfy will use the capital to fuel innovation that uniquely addresses the challenges financial institutions face when adopting AI-driven decision-making. Its credit risk, fraud detection, and bias mitigation tools allow financial institutions to consider a broader view of factors that better inform credit decisions without increasing risks.
This marks a second investment from Zeal Capital Partners, following its investment in October 2021.
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“We are amazed by the team’s customer-centric approach and best-in-class products. Stratyfy is quickly becoming a market leader,” said Andy Will, Principal Investor with Zeal Capital Partners. “It’s a blessing to work with brilliant people solving impactful problems at scale, and that is what we have found in Stratyfy. We couldn’t be more excited to deepen our partnership by co-leading this financing round with Truist Ventures. The sky’s the limit for this talented team.”
“Our investment in Stratyfy is an opportunity to learn about innovative technologies, commercialize impactful solutions and positively support our communities,” said Tarun Mehta, Head of Corporate Development and Truist Ventures. “Our platform of senior executives and technical experts look forward to being a part of the development and growth of this mission-driven, disruptive company.”
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