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, 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”
“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.”
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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.
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