Taktile lands $20m for automated business decisions

Taktile-raises-$20m-Series-A-funding-for-automated-business-decisions

Taktile, a Software as a Service (SaaS) startup revolutionising how businesses make automated decisions, has raised $20m in Series A funding.

The round was co-led by Index Ventures and Tiger Global.

Founded in 2020, and backed by eight unicorn founders, Taktile allows companies of all sizes to easily build, run, and evaluate automated decision flows without requiring developers to write complex code.

It is used by businesses for decisions like which customers to lend to, or what price to offer to new customers. The platform helps companies to bring products to the market faster, act proactively in a constantly changing environment, and eliminate guesswork for their most relevant decisions.

According to Takile, the capital will help the company to further develop its unique product capabilities and accelerate ongoing expansion in the United States, where it has seen rapid growth, increasing its client base by four times since lockdown restrictions were lifted.

Maik Taro Wehmeyer, co-founder and CEO of Taktile, said, “Today, too many businesses rely on automated decisions that they rarely revisit, which causes them to overlook critical risks, respond to market changes too late, and thus leave money on the table. By allowing businesses to adjust their decision flows in a quick, easy and data-driven way, we help them optimise decision accuracy, reduce risk, and significantly improve their margins.

“Combined with our off-the-shelf data integrations across the globe, this not only helps our customers improve their unit economics but also enables them to launch new lending and insurance products fast.”

Carlos Gonzales-Cadenas, partner at Index Ventures, added, “Taktile’s platform fills a gaping hole in the FinTech stack by unblocking risk teams, enabling them to quickly build, test and evolve their risk models and rules without a heavy dependence on engineering. I am excited about the product because better risk decisions have a direct bottom-line impact and lie at the heart of every financial product.”

Earlier this year, Cybersecurity company Valence Security raised $25m in Series A funding to scale the delivery of its SaaS Security Remediation Solutions to customers.

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