- Powerlytics, a data provider that has granular data for the 200 million adults and 30 million businesses that make up the U.S. economy, announced that it has raised $4 million in funding
Powerlytics — a data provider that has granular data for the 200 million adults and 30 million businesses that make up the U.S. economy — announced recently that Brewer Lane Ventures has acquired a $4 million stake in the company. With this investment, Powerlytics will grow all aspects of the business and increase its sales, data science, and product management teams. Brewer Lane Ventures’ founder John Kim (former president and Chief Investment Officer of New York Life) will also be joining the board of Powerlytics.
Launched in 2011, Powerlytics works with some of the largest and most well-known U.S. companies, including top banks, asset managers, and insurance companies thus leveraging anonymized financial information from publicly available U.S. government sources.
And the company’s 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 many other scenarios where predictive analytics are used to identify risk and risk-based market opportunity.
Powerlytics recently announced a suite of solutions to help companies navigate the risk that they are facing from the COVID-19 crisis. And the Powerlytics Recession Impact and Recession Recovery Scores are the newest feature in the suite, which helps businesses and governments predict impacts, identify risk, and deploy capital. These scores rank every U.S. nine-digit ZIP code on the predicted severity of a recession along with the strength of recoveries in the near- and long-term.
“This investment is a testament to the strong foundation we’ve built with our proprietary data and predictive analytics. Our products are well- situated to help companies through the current season of economic uncertainty. We are excited to have Brewer Lane Ventures join our team to help accelerate our growth.”
Kevin Sheetz, CEO and Co-Founder at Powerlytics
“Powerlytics’ track record shows that its data can identify risks and opportunities in a wide range of economic conditions. We plan to utilize our significant experience in financial services to assist Powerlytics with its strategy, operations, and client acquisition efforts.”
– John Kim, Founder and Managing Partner at Brewer Lane Ventures