Big Data Firm Powerlytics Sells $4m Stake

Financial big data firm Powerlytics has sold a $4m stake to Brewer Lane Ventures, and will use the money to increase its sales, data science and product management teams.

Founded in 2011 by CEO Kevin Sheetz, Doylestown, PA-based Powerlytics holds data for 200 million US adults and 30 million businesses. Its proprietary big data analytics platform pulls in anonymized financial information from publicly available US government sources to provide economic analysis. Clients use this to manage risk with both individual business and consumer customers and portfolios, discover potential markets, drive corporate strategy, develop digital marketing campaigns, benchmark performance, and enhance both business and consumer target marketing.

As part of the acquisition, Brewer Lane Ventures' founder, John Kim (pictured), former President and Chief Investment Officer of New York Life, will join the Powerlytics Board. Sheetz comments: 'This investment is a testament to the strong foundation we've built with our proprietary data and predictive analytics. Our products are well situated to help companies through the current season of economic uncertainty, and we are excited to have Brewer Lane Ventures join our team to help accelerate our growth'.

Web site: www.powerlytics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.