Warburg Pincus LLC, a global private equity firm focused on growth investing has invested $75 million in Personetics, a global provider of data-driven personalization and customer engagement solutions for banks and financial services providers. Personetics is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners.
David Sosna, CEO and co-founder of Personetics, said, “The financial services industry is reaching a tipping–pointin mobile adoption and setting a new standard in Smart Personalized Engagement. Personetics has set out down this path and has launched its vision of Self-Driving Finance. We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey”.
Peter Deming, Managing Director at Warburg Pincus and head of financial services across EMEA, said, “Personetics leverages an unrivaled AI technology which is badly needed by established banks as they seek to differentiate themselves in a crowded market and match the customer experience of the Neobanks and FinTech apps. David and his team have built the perfect solution for the post-COVID banking distribution model and already secured a world-class client base. Through the combination of our financial backing and Warburg Pincus’ extensive global network across financial services, Personetics can distribute its unique technology into banks all over the world”.