Powerlytics, a consumer and business financial data platform that analyzes financial information from publicly available U.S. government sources, raised $4 million in Series B funding from Brewer Lane Ventures, a fintech-focused venture capital firm.
The company plans to use the new funds to grow its business and expand its sales, data science, and product management teams.
Powerlytics works with some of the major U.S. companies, including top banks, asset managers, financial services providers, and insurance companies. 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.
Founded in 2011, Powerlytics has raised over $10 million to date, including a $5 million funding round in 2014, which was led by Ben Franklin Technology Partners with participation from Chicago-based CME Group.