Powerlytics Announces Series B Fundraising Round Led By Brewer Lane Ventures
Deal highlights strong investor interest in actionable intelligence during uncertain economic times
DOYLESTOWN, Pa.–(BUSINESS WIRE)–Powerlytics, a data provider that has complete, granular data for the 200 million adults and 30 million businesses that make up the U.S. economy, today announced that Brewer Lane Ventures, a venture capital firm with a fintech focus, has acquired a $4 million stake in the company. Powerlytics will use the investment to grow all aspects of the business, and increase its sales, data science, and product management teams. Brewer Lane Ventures’ founder, John Kim, former president and Chief Investment Officer of New York Life, will also be joining the board of Powerlytics.
“This investment is a testament to the strong foundation we’ve built with our proprietary data and predictive analytics. Our products are well- situated to help companies through the current season of economic uncertainty,” said Kevin Sheetz, CEO and Co-Founder at Powerlytics. “We are excited to have Brewer Lane Ventures join our team to help accelerate our growth.”
“Powerlytics’ track record shows that its data can identify risks and opportunities in a wide range of economic conditions,” said John Kim, Founder and Managing Partner at Brewer Lane Ventures. “We plan to utilize our significant experience in financial services to assist Powerlytics with its strategy, operations and client acquisition efforts.”
Founded in 2011, Powerlytics works with some of the largest and most well-known U.S. companies including top banks, asset managers, and insurance companies, leveraging anonymized financial information from publicly available U.S. government sources. Its data has been used in a wide variety of use cases, including income verification, business revenue prediction, customer default, market segmentation, customer retention, marketing funnel optimization, and other scenarios where predictive analytics are used to identify risk and risk-based market opportunity.
Leveraging its unparalleled financial data on businesses and consumers in the U.S., Powerlytics recently announced a suite of solutions to help companies navigate the unique risk that they are facing from the COVID-19 crisis. The Powerlytics Recession Impact and Recession Recovery Scores are the newest offering in the suite, helping businesses and governments predict impacts, identify risk, and deploy capital. These scores rank every U.S. nine-digit ZIP code on the predicted severity of a recession, and the strength of short-term and long-term recoveries.
For more on Powerlytics tools, visit www.powerlytics.com.
Powerlytics provides the most comprehensive, accurate and granular consumer and business financial data available in the U.S. Our proprietary big data analytics platform analyzes anonymized financial information from publicly available U.S. government sources and reconstructs it into easily understood and actionable financial information that provide a comprehensive financial view of the over 200 million adults and 30 million businesses that comprise the American economy. Major U.S. corporations and financial services providers are using Powerlytics’ data to stay on the cutting edge with predictive analytics, manage risk with both individual business and consumer customers and portfolios, discover potential markets, drive corporate strategy, develop digital marketing campaigns, benchmark performance, enhance both business and consumer target marketing. Visit http://blog.powerlytics.com/ or www.powerlytics.com for more information.
About Brewer Lane Ventures
Brewer Lane Ventures is an early stage venture firm focused on insurtech and fintech companies. Using our deep knowledge of the insurance and financial services industries, we invest in startups that will transform the market for companies and consumers alike. We bring together domain expertise from founding and scaling startups, venture investing, and running Fortune 100 companies. Brewer Lane’s partners have significant operating and board experience in leading financial services companies like New York Life, Prudential, Fiserv, SoFi, and RMS. To learn more, visit us at brewerlane.com or @BrewerLaneVC.
Brewer Lane Ventures