We look forward to the next chapter of outstanding growth as we join forces with the industry’s most reputable leader in data analytics with a rich history of serving insurance and financial services.
PRINCETON, N.J. (PRWEB) December 18, 2020
Edison Partners, the leading growth equity firm, today announced the sale of Jornaya to Verisk, a leading data and analytics company.
Philadelphia-based Jornaya is a leading behavioral data intelligence company that provides insights and analytics to marketers in banking, insurance, mortgage, real estate, higher education and automotive. Jersey City, N.J.-based Verisk is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services industries.
“The use of behavioral data and insights has become critical to drive better business outcomes. Jornaya has a proprietary view of consumer buying journeys. Ryan Ziegler and Edison are an exceptional team that guided us as we transformed our business into a leading data insights platform. We look forward to the next chapter of outstanding growth as we join forces with the industry’s most reputable leader in data analytics with a rich history of serving insurance and financial services,” said Ross Shanken, Founder and CEO, Jornaya.
Ryan and the Edison team partnered with Jornaya Founder and CEO Ross Shanken in 2016 to lead the company's $10 million growth equity round. Jornaya scaled capital efficiently, has experienced strong top and bottom-line growth, and today works with more than 125 trusted brands and leading companies.
"Ross and his team have built a valuable high-growth data and technology business. This move will further their goal of helping clients time and tailor interactions based on actual in-market behaviors—ensuring engagement with customers and prospects at the right time with a relevant message, in a privacy protected manner,” said Ryan Ziegler, General Partner, Edison Partners, who served on the Jornaya board of directors.
"Jornaya’s leading intelligent predictive technology focused on enhancing consumer major life decisions gives its customers a unique advantage to improve their buyer experience and strengthen their brands. Ross and the Jornaya team have the unique opportunity to create an insurance and financial services powerhouse able to revolutionize the consumer shopping experience," said Mehdi Tehranchi, an Edison Director Network member who joined the board in 2017 and is now the lead director. Edison also recruited domain expert Dave Yaffe to the board as an independent director, the Co-founder of Estuary and former COO of LiveRamp, the leading data connectivity platform.
Edison Partners has financed and guided more than 240 private companies, a third of which have been in the enterprise solutions space. Edison’s current enterprise solutions portfolio includes ATS, Bricata, Emplify, ExecVision, Giant Oak, Northpass, observeIQ, Overhaul, PathFactory, Superpedestrian, Suuchi, Terminus, The Pro’s Closet, and TripleLift. Other notable exits in the sector include Archive Systems, Billtrust, Cadient, eSentire, Fishbowl, ItemMaster, Kemp, Logfire, M5, Mathsoft, Motionsoft, NetProspex, Notable Solutions, Operative, Tangoe, Telarix, TetraData, Uptivity, Virtual Edge, Vocus, and VFA.
Jornaya has proprietary behavioral data in markets where consumers make considered purchases, including insurance, banking, mortgage, real estate, loans, automotive, and higher education. Jornaya’s data helps companies and their marketing teams improve consumer engagements and drive profitable growth through a deeper understanding of their customers and prospects and their buying journeys. Leading companies use Jornaya’s data to help retain current customers, grow relationships with existing customers, and establish new relationships. For more information, visit jornaya.com.
About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm's investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in enterprise solutions, financial technology, and healthcare IT sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison's active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.