PALO ALTO, Calif., June 12, 2020 /PRNewswire-PRWeb/ -- ScoreData announced today the close of their Series A financing from Impact Venture Capital, a leading Silicon Valley venture firm with offices in Burlingame, and Sacramento, CA.
Impact Venture Capital has a unique approach to sourcing and developing early stage companies. With their global corporate network, they have successfully identified, invested in, and helped to grow, market leading technology companies.
"ScoreData is reinventing how customers and businesses engage with each other. With ScoreData's predictive applications driven by its ScoreFast AI/ML platform, companies in the financial services, insurance, and healthcare markets will be able to anticipate customer needs, and offer more personalized solutions for their customers," said Jack Crawford, Founding General Partner of Impact Venture Capital. "We were very impressed with the ScoreData team, their passion, and their innovative approach to building the next generation of AI/ML powered customer engagement platform."
In the post-Covid19 era, ScoreData empowers indebted individuals and institutions to work together to negotiate their monthly payments (personal loans, insurance claims payments and reimbursements, and healthcare loans) directly with each other. With increasing unemployment, wage cuts and a decelerating business environment borrowers and debtors are increasingly unable to make payments.
ScoreData helps solve this problem by helping consumers negotiate better deals with their creditors while also ensuring that institutional loss ratios are minimized. We use advanced AI and machine learning to match consumer propensities to pay while optimizing the return on institutional portfolios.
"ScoreData is delighted to be partnering with Impact Venture Capital. We were very grateful for their steadfast support all through the Covid19 lockdown, their deep diligence across our customers and partners, and their insights into markets, and their extensive corporate network," said Vas Bhandarkar, CEO of ScoreData Corporation. "We partnered with Impact Venture Capital because they deliver value, beyond capital infusion, helping us forge partnerships with market leading organizations."
Among existing investors participating in the round were RecruitGroup, and Asha Jadeja Motwani.
"We are pleased to participate in the round. ScoreData has built outstanding customer engagement solutions for Recruit Group for our businesses in Tokyo," commented a spokesperson for Recruit Co., Ltd, Tokyo.
Impact Venture Capital is a Silicon Valley-based early-stage venture capital firm that invests alongside corporate venture groups and top tier investors in seed-stage technology startups with a focus on artificial intelligence applied to cybersecurity, robotics, drones, autonomous vehicles, digital health, and other fast-growing industry sectors.
As businesses of the twenty-first century digitize their business processes, ScoreData Corporation helps re-invent how they engage with customers across the omni-channel using AI and patented dynamic machine learning. ScoreData delivers cloud-native predictive self-service customer engagement solutions to the BFSI and Healthcare industries. Businesses lose billions of dollars because the right customers are not matched to the most optimal agents (bots or humans) empowered with the right actionable tools. As a result, they have sub-optimal outcomes, leading to business losses, and low net promoter scores.
ScoreData's award-winning ScoreFast™ platform solves these problems by combining external data sets and historical data sets, predictively matching agents, to deliver optimally designed offers/advice to these empowered customers. ScoreData uses advanced ranking, matching, nudge and negotiation algorithms to empower both agents and customers to complete these financial transactions. ScoreData is the only predictive analytics company that combines patented dynamic machine learning and AI, with robust algorithms using econometrics that drive business results which are consistently profitable.
ScoreData pricing is performance based, and thus they are the most cost-effective solutions in the industry.
ScoreData Corporation is a privately held company based in Palo Alto, California with customers in the US, Japan, and India.
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