Revio, a revenue-enabling, customer-insights SaaS platform, has secured a substantial investment to enhance its operations in the banking sector. Today, the company announced a successful Series A venture funding round, garnering $2.5m.
Leading this financial boost were BankTech Ventures, a fund keenly focused on uplifting community banks, and EJF Ventures, renowned for their investment in FinTech and banking technology.
Specialising in the enrichment of core banking data, Revio has established itself as a pivotal player in sales enablement and marketing personalisation. The company provides a unique platform for community and regional banks to spotlight potential growth areas, aiming to foster stronger customer ties, extended customer lifetime value, and heightened profitability.
With this fresh investment, Revio aspires to hasten the adoption rate of its growth-focused, customer-insights platform. The platform’s strength lies in its ability to turn vast amounts of customer data into actionable insights using machine learning. By doing so, Revio offers solutions across various banking verticals like commercial and retail deposits, loans, credit cards, insurance, wealth management, and more. Armed with this data, bank sales teams, marketers, and relationship managers can efficiently segment and prioritise customer outreach for a more personalised marketing approach.
Revio CEO Brian Bauer said, “With the strategic backing of both BankTech and EJF Ventures, we’re in a position to further accelerate our platform development, market adoption, and impact to help community banks enhance competitiveness. This not only brings capital to fuel our growth, but also provides us with partners that have a deep understanding and valuable networks in the banking technology sector.”
Already boasting a vast clientele of community and regional banks, Revio, in tandem with several bank partners like Sunwest Bank, has crafted its core agnostic technology. This technology is universally compatible, integrating seamlessly with any bank, credit union, or core system.
Carey Ransom, Managing Director at BankTech Ventures, voiced his thoughts on the venture, stating, “What Revio is doing is unique. They are putting insight-driven opportunities directly into the hands of the people at the bank who can take specific steps to grow customer relationships. We’ve seen this in action, too, as one of our bank partners spent the time to pilot Revio and is now live with the product, already showing revenue and deposit growth.”
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