Personetics, a US-based customer engagement technology provider backed by financial services firm Santander, has raised $75m from private equity firm Warburg Pincus.
Founded in 2011, Personetics develops artificial intelligence-based software used by banks to analyse customer financial and behavioural data. The technology enables banks to pass on insights and financial advice to their customers and provide automated wellness programmes.
Personetics claims clients – which include Santander – using its software report a 35% increase in digital customer engagement and a 20% rise in account and balance growth.
David Sosna, CEO and co-founder of Personetics, said the company was now looking to expand its presences globally by establishing new partnership and securing additional clients.
Financial services firm Santander’s venture capital arm, Santander InnoVentures, invested an undisclosed amount in the business in 2017. Santander InnoVentures has since been spun off as an independent venture capital firm called Mouro Capital.
Lightspeed Venture Partners, Carmel Ventures and Sequoia Capital participated in an $11.5m series B round for Personetics in 2013. The latter two previously invested in Personetics’ $6.5m series A round in 2011.
Personetics’ other existing investors include venture capital firms Viola Ventures and Nyca Partners.