Data analytics firm Personetics raises $75 million led by Warburg Pincus

JERUSALEM (Reuters) – U.S.-Israeli data analytics firm Personetics said on Tuesday it had raised $75 million in a private funding round led by private equity firm Warburg Pincus LLC.

Personetics, which uses artificial intelligence (AI) to analyse data for banks and financial services firms and enable them to send personalised recommendations and products to their customers, is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners. Terms of the transaction were not disclosed.

The company said its software is used by more than 95 million personal banking customers and analyses billions of transactions daily.

Clients include many of the world’s top banks, including U.S. Bank, RBC in Canada, Intesa Sanpaolo in Italy, Santander in Spain, KBC in Belgium, Metro Bank in the UK, UOB in Singapore, Hyundai Card in Korea and Japan’s MUFG, it said.

Warburg Pincus in 2019 bought credit card firm Leumi Card from Israel’s Bank Leumi for 2.5 billion shekels ($771 million). It has since changed Leumi Card’s name to MAX.

($1 = 3.2429 shekels)

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