Personetics secures over $160 million in 2021 and accelerates the global expansion of its AI-driven personalization and engagement solutions for financial instiutions
- Leading global fintech firm, Personetics expands its operations in the UAE and reveals partnership with Emirati Banks
- Personetics has secured $85 million in new investment from Thoma Bravo Private Equity
- Over 120 million bank customers are now ‘self-driving’ their finances with Personetics’ Engagement Platform and improving their financial well-being
- Personetics’ Engagement Platform has generated over 6.5bn insights and saved for customers utilizing its business solutions over $500m
- Personetics partners with over 80 financial institutions in 30 global markets
- Personetics’ growth has been driven by its advanced AI analytics and data assets which are adaptive to any market
ABU DHABI, UNITED ARAB EMIRATES, January 19, 2022 – Personetics, the leading global provider of financial-data-driven personalisation and customer engagement solutions for banks and financial services providers, today announced it has raised $85m in growth funding from Thoma Bravo, a leading software investment firm. Personetics doubled its valuation and secured a total funding of over $160 million in 2021. Personetics is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital, Nyca Partners and Warburg Pincus PE.
Personetics has also announced that it is expanding its operations in the UAE to service its growing portfolio of clients in the region.
Operating in a global market worth approximately $15 billion, Personetics’ AI-based engagement platform is becoming a market standard in financial-data-driven personalization, customer engagement and money management for global financial institutions across all channels. Personetics partners with financial institutions to re-invent financial services by integrating, automated intelligence into every customer interaction, creating significant business impact in months rather than years.
Personetics’ AI-powered technology is focused on proactive engagement: analyzing financial data in real-time, understanding individuals’ financial behaviors, anticipating their needs, and acting on their behalf. Personetics provides day-to-day enriched data, insights, financial advice, and automated wellness programs, tailored to retail banking, small business, wealth management and cardholders. Financial Institutions using Personetics’ AI software see an increase of up to 35% in digital customer engagement, a 20% increase in account and balance growth: and a 17% increase in the adoption of personalized product recommendations and advice.
Personetics is already in early stages of working with several financial institutions in the UAE, including Emirates NBD, a leading bank in the Middle East, North Africa and Turkey (MENAT) region who will be adopting Personetics AI technology within their mobile banking app to give customers more control of their financial lives. The solution will give account holders personalised alerts, insights, and advice in real-time about their financial health, spending and consumption habits, giving them a clear vision of where their money is going.
Suvo Sarkar, Senior Executive Vice President, Head of Retail Banking and Wealth Management at, Emirates NBD said, “Our collaboration with Personetics will enable us to provide our customers with clear insight on their spending habits, enabling them to make better decisions to improve their financial health, while reducing our operational costs. Our agreement will be aligned to our core promise of providing innovative banking solutions that enable better opportunities for our customers to prosper.”
David Sosna, CEO and Co-Founder of Personetics, said:
“Now is a truly exciting moment for financial services in the UAE and Personetics is here to help banks and other financial institutions take full advantage of our technological leadership. Data-driven personalization and customer engagement is the battleground for financial institutions all over the world. Banks are increasingly moving from a passive to a proactive relationship with customers and are looking for new ways to help them improve their financial well-being. Our rapid growth and our vision of self-driving finance is quickly expanding our global footprint with new partners and clients and supporting our existing customers with innovative business solutions that drive business impact. We are very excited to be expanding our operations in the UAE and partnering with Thoma Bravo joining our existing investors on this journey.”
Robert Sayle, a Partner at Thoma Bravo, said:
“As the range and complexity of financial products continues to grow, Personetics simplifies and personalizes banking for consumers with its industry-leading AI technology. We are thrilled to partner with Personetics and leverage our operational expertise in software and financial technology to help accelerate the company’s momentum, the introduction of new products and technology, and the platform‘s reach to financial institutions and their customers in the UAE and across the globe.”
For more information, visit Personetics.com
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About Personetics
Personetics is the global leader in financial-data-driven personalisation and customer engagement for Financial Services. Personetics is working to create a world of “Self-Driving Finance” where banks and financial institutions proactively act to improve their customers’ financial wellness with automated savings programs, personalised insights, product-based recommendations, and helpful advice.
Personetics offers a range of solutions for consumer banking, small business banking, wealth management, credit card issuers, and other financial institutions. By using Personetics’ agile solutions, financial brands can create their own personalisation IP to transform their customer relationships, build their brand reputation as trusted advisors, and create market differentiation. Founded in 2011, Personetics is backed by Warburg Pincus, Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners. The company has offices in New York, London, Paris, Singapore, Sydney, and Tel Aviv. To learn more, visit www.personetics.com.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $91 billion in assets under management as of September 30, 2021. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired more than 325 companies representing over $155 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit www.thomabravo.com
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