BlastPoint – a minority-led AI consumer analytics trailblazer – recently announced it raised over $8 million in funding with the recent investment from Curql.
The company will use the funding round to accelerate its upward trajectory as the industry’s most personalizable and accurate customer insights solution, empowering businesses across highly regulated industries, including utilities, financial institutions, automotive, insurance, and more—to optimize customer engagement, surpass benchmarks, generate revenue, and achieve growth.
This investment builds upon BlastPoint’s recent AI innovations and acceleration of growth, including:
— $5.25 million in new seed funding co-led by Curql, Muditā Venture Partners LLC, and Ann Arbor, Michigan-based eLab Ventures in 2023
— 50% headcount growth this year, including key hires of data scientists, engineering, operations, and more
— 3X year-over-year revenue growth as of September 2023 with a record increase in profits over the past three years
BlastPoint plans to boost customer intelligence across industries through product enhancements, research, and strategic market expansion as part of the funding round. And this includes the introduction of BlastPoint Foundations to democratize data-driven decision-making by making insights accessible to clients with diverse financial availabilities and reinforcing BlastPoint’s dedication to inclusivity.
BlastPoint was co-founded in 2016 by Alison Alvarez, CEO and Tomer Borenstein, CTO. Alvarez is a Latina entrepreneur trailblazer, Pgh Startup Community Awards: 2023 Founder of the Year, 2023 EY Entrepreneurs Access Network member, Fire Awards: 2022 Rising Founder recipient, 2016 Swartz Fellow, and 2003 NSF AI Fellow. And Borenstein is a 2022 Top US Data Visualization CTO and 2017 Business Times’ 30 under 30 award recipient.
BlastPoint’s approach to machine learning removes the idea of black boxes. And by thoroughly auditing models, BlastPoint ensures unbiased training to deliver accurate, clear, justifiable AI outputs. Tapping into diverse datasets, updated daily, BlastPoint’s models gather insights from all segments of society and adapt as consumer preferences shift to support equitable and informed decision-making.
“Building on our success in the utility market, BlastPoint is expanding to help financial institutions grow revenue and retain customers with customized data that is accessible and usable on a day-to-day basis. Since its inception, BlastPoint keeps raising the bar to deliver an AI platform that transforms customer data into meaningful insights that drive actions and deliver tangible business results.”
— Alison Alvarez, BlastPoint CEO and Co-founder
“Leveraging artificial intelligence in a way that’s secure, accessible, and helps credit unions dramatically increase efficiency is incredibly exciting to us. BlastPoint impresses us with technology that helps credit unions better understand member data, predict behavior, and ultimately become more member-focused organizations.”
— Curql Collective President and CEO Nick Evens
“I’m confident that every marketing dollar spent using BlastPoint AI-driven data is spent in a smarter, more targeted way than before. With BlastPoint, River Valley Credit Union can create models using past member behaviors to recognize and predict the behaviors of other members and dive deeper into existing members to create look-alike targets for other media.”
— Eric Ebbert, River Valley Credit Union, SVP, Sales & Marketing