Data provider Powerlytics has scored $4m in a funding round from FinTech-focused investor Brewer Lane Ventures.
In line with the deal, Brewer Lane Ventures founder John Kim will join the board of Powerlytics.
Founded in 2011, the FinTech helps banks, asset managers and insurance companies leverage anonymised financial information from publicly available US government sources.
The data has been used in various use cases including income verification, business revenue prediction, customer default, market segmentation, customer retention, marketing funnel optimisation and more. The technology can be used in any scenario where predictive analytics can identify risk and risk-based market opportunity.
John Kim said, “Powerlytics’ track record shows that its data can identify risks and opportunities in a wide range of economic conditions.
“We plan to utilize our significant experience in financial services to assist Powerlytics with its strategy, operations and client acquisition efforts.”
Powerlytics recently released new tools to help businesses overcome the challenges the coronavirus is presenting them. The Powerlytics Recession Impact and Recession Recovery Scores empower businesses and governments to predict impacts, identify risk and deploy capital.
The scores rank every US nine-digit ZIP code on the predicted severity of a recession and the strength of short-term and long-term recoveries.
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