Stratyfy – an innovator of machine learning solutions that mitigate risk, remove bias, and enable inclusive lending for financial institutions – announced funding totaling $10 million from prominent investors. And the funding round was co-led by Truist Ventures and Zeal Capital Partners and includes prominent investors like Mendon Venture Partners, The 98, FIS, and serial entrepreneur Barry J. Glick.
The company plans to use the funding to fuel innovation that uniquely addresses the challenges financial institutions face when adopting AI-driven decision-making. And credit risk, fraud detection, and bias mitigation tools enable financial institutions to consider a broader view of factors that better inform their credit decisions without increasing risks.
KEY QUOTES:
“Stratyfy is growing fast as financial institutions recognize the urgent need to improve transparency and reduce bias in their decision processes. With increased adoption of AI and machine learning, transparency and controls around these solutions are essential so that the biases of our past do not encode into our future. Our investors share our vision and understand the complex needs of our customers. We are uniquely positioned to address these needs with our proven technology and talented team.”
— Laura Kornhauser, Co-founder and CEO of Stratyfy
“We are amazed by the team’s customer-centric approach and best-in-class products. Stratyfy is quickly becoming a market leader. It’s a blessing to work with brilliant people solving impactful problems at scale, and that is what we have found in Stratyfy. We couldn’t be more excited to deepen our partnership by co-leading this financing round with Truist Ventures. The sky’s the limit for this talented team.”
— Andy Will, Principal Investor with Zeal Capital Partners
“Our investment in Stratyfy is an opportunity to learn about innovative technologies, commercialize impactful solutions and positively support our communities. Our platform of senior executives and technical experts look forward to being a part of the development and growth of this mission-driven, disruptive company.”
— Tarun Mehta, Head of Corporate Development and Truist Ventures
