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Personetics Raises $75 Million Led by Warburg Pincus

The leading global provider of AI data-driven personalization and customer engagement solutions for banks and financial services, Personetics has announced that it has raised $75m in growth funding from Warburg Pincus LLC. Warburg Pincus is a leading global private equity firm focused on growth investing.

Personectics is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital, and Nyca Partners. Personetics serves financial institutions by offering a proprietary AI software platform. It covers over 95 million personal banking customers and analyzes billions of transactions daily. The firm also monitors customer financial data and behavior in real-time, with the data safely enclosed in the bank’s ecosystem, hence, guaranteeing confidentiality.

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Banks take advantage of Personectis’ agile tools, its low-code Engagement Builder, and Creation & Management Console to modify hundreds of pre-programmed insights and build customized user journeys. Consequently, it empowers banks to share real-time personalized insights and advice, as well as automated, self-adjustable financial wellness programs across its customer base comprising both individual banking customers and small businesses.

The benefits and ROI of providing data-driven, hyper-personalized, engagement to every customer interaction are immediate and substantial. Banks using the Personetics AI software are seeing an up to 35% increase in digital customer engagement, a 20% increase in account and balance growth, and a 15% increase in the adoption of personalized product recommendations and advice.

Personetics’ flagship clients include many of the worlds leading banks, such as U.S. Bank (US), RBC (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan).

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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.”

While, 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.”

Adarsh Sarma, Co-Head of Europe at Warburg Pincus, said, “Israel continues to offer innovative, high growth investment opportunities across technology, financial technology, and financial services, all sectors of particular interest to Warburg Pincus. We have committed almost $700 million of equity to businesses in Israel since our founding which is a testament to the talent and innovation that the country has fostered. In spite of the global pandemic, Israel is very much open for business and we look forward to a fruitful and successful partnership with Personetics.”

Alongside, Avi Zeevi, Co-founder of Viola Ventures and Personetics’ Chairman, commented, “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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