Pulsate – a provider of mobile-first engagement solutions that deepen digital banking relationships and cut through noise in consumers’ moments of need – announced it has raised $7.75 million in Series A funding, led by TruStage Ventures and Curql Collective.
Most consumers have followed the shift from traditional branches to mobile banking, with only 10% still preferring to bank in person regularly. And the challenge for credit unions and community banks lies in delivering more significant levels of convenience to the majority of their account holders through the digital channel without sacrificing the quality of the relationships with those customers and members. In the competitive banking landscape, community financial institutions can respond to dynamic market fluctuations while driving meaningful deposit growth through targeted communication by reaching the right people at the right time, regardless of location or channel.
Pulsate’s solution enables community FIs to ensure they are providing personalized, timely, and relevant outreach to their members and customers in their time of need, deepening those banking relationships while positioning themselves as their account holders’ primary institution. And this will be especially relevant in financial institutions’ ongoing efforts to attract and retain deposits as they utilize data-driven, personalized engagement with customers via digital channels.
Pulsate experienced rapid growth and rising demand throughout the last year. The company plans to use this round of funding to further accelerate this growth trajectory, support the expansion of staff and resources, and continue its goal of empowering community FIs to cut the digital clutter and communicate more effectively and meaningfully with their members and customers in their moment of need, boosting loyalty and retention.
KEY QUOTES:
“Offering personalized banking experiences will continue to be a key differentiator for community financial institutions. Customers expect institutions to be there at their moment of need, which is why mobile engagement platforms are important. By further investing in Pulsate, we are empowering them to help even more banks and credit unions serve their customers better and strengthen their relationships.”
- Sam Das, managing director of TruStage Ventures
“It’s no surprise that credit union members have high expectations when it comes to their digital banking experience. They desire customized and responsive tools similar to other digital channels they interact with daily. Pulsate’s solutions empower credit unions to meet their members’ needs and adapt their communications to elevate member relationships in an efficient and scalable manner.”
- Nick Evens, President and CEO of Curql Collective
“We are thrilled by the support from investors like TruStage Ventures and Curql who are committed to supporting our industry and share our vision for enhancing the future of digital engagement for community financial institutions. This not only validates the strength of our platform, but also further accelerates our mission to transform the way financial institutions build and foster meaningful relationships with consumers in the digital realm. With this investment, Pulsate is poised to lead the charge in revolutionizing relationship banking, ensuring a seamless and personalized experience for consumers across the digital landscape.”
- Sarah Martin, CEO of Pulsate
