AI Startup Point Predictive Secured Undisclosed Series B Growth Financing

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Point Predictive Inc., a San Diego based com­pa­ny that pro­vides machine learn­ing solu­tions to the lend­ing indus­try, has now com­plet­ed its Series B growth fund­ing.

Point Predictive is found­ed in 2013 by Joe Jackson. It is an AI tech­nol­o­gy com­pa­ny with deep exper­tise in build­ing machine learn­ing scor­ing models that have been widely deployed by lenders and banks. Its solu­tions enable the lenders to fund more loans using a patent­ed com­bi­na­tion of Artificial and Natural Intelligence that powers machine learn­ing risk assess­ments.

Executive Opinion

Steven Piaker, Partner at Napier Park, said, “We believe Point Predictive is poised to trans­form the lend­ing indus­try with their unique brand of Artificial and Natural Intelligence tech­nol­o­gy and their pow­er­ful pro­pri­etary con­sor­tium data. As fraud con­tin­ues to grow glob­al­ly, the team at Point Predictive has fig­ured out a way to power more trust in lend­ing by inform­ing lenders which con­sumers and loan actors they can trust, and which they cannot. We were impressed with their abil­i­ty to apply their tech­nol­o­gy across mul­ti­ple lend­ing indus­tries – auto, mort­gage, and fin­tech – and are excit­ed to par­tic­i­pate in Point Predictive’s future growth.”
Tim Grace, CEO of Point Predictive, said, “We are excit­ed about the sup­port from Napier Park and our cur­rent investor Mosaik Partners. Their invest­ment, exper­tise in the space, and net­work will not only help us solid­i­fy our cus­tomer base in auto lend­ing, mort­gage lend­ing and fin­tech, but it will also help us expand into new mar­kets and deliv­ery chan­nels. We look for­ward to con­tin­u­ing our tra­di­tion of inno­va­tion and pro­vid­ing our cus­tomers and prospects with amaz­ing results.”

Point Predictive’s Latest Funding

The round was backed by the Napier Park Financial Partners with par­tic­i­pa­tion from Mosaik Partners.

The new fund­ing will allow the com­pa­ny to expand the exec­u­tive, sales & mar­ket­ing, and prod­uct teams. The com­pa­ny also intends to use newly raised funds to grow its engi­neer­ing and data sci­en­tist teams, notes the announce­ment.

The com­pa­ny also plans to expand into mort­gage, per­son­al lend­ing and fur­ther into auto­mo­tive indus­try. 

PC: Pablo, Pixabay

TechSutram source|articles

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