Point Predictive, a provider of machine learning solutions to the lending industry, announced that it has completed its Series B growth financing round.
Napier Park Financial Partners led the investment round with participation from the company’s existing investor, Mosaik Partners.
Point Predictive solutions enable lenders to fund more loans using a patented combination of Artificial and Natural Intelligence that powers machine learning risk assessments. The company helps automotive, mortgage, retail, personal lending, and student loan finance companies identify consumer loan applications that have truthful and reliable information without the intense interrogation and verification of data prompted by solutions currently in use.
Point Predictive also announced it has hired Michael Housman as its new Chief Technology Officer and promoted Eric Werab to Chief Revenue Officer to facilitate the rapid growth Point Predictive is experiencing.
The new funding will help the company aggressively expand the executive, product, sales, and marketing teams, as well as continue to grow its data scientist and engineering teams.
Point Predictive plans to enhance their solution portfolio in the automotive industry and expand into the mortgage, personal lending, and other industries with their patented technology solutions.
Image Credit: Point Predictive