Earnix Closes $13.5M Investment Round to Fund Its Growth Strategy
Reuven Ben Menachem, former CEO of Fundtech, elected as Chairman
Tel Aviv, Israel, 30th January, 2017 – Earnix, a leading provider of predictive analytics solutions for the financial services industry, today announced it has completed a $13.5 million financing round with Jerusalem Venture Partners (JVP), Vintage Investment Partners, both long-time investors, and Israel Growth Partners (IGP), a new investor.
The funding will be used to accelerate Earnix’s growth strategy, which includes a combination of geographic expansion, deeper penetration into the banking vertical, and investment in new products. The company is ready to commercialize its next generation analytics platform, which embraces predictive analytics, deep machine learning and big data technologies.
Earnix also announces that Reuven Ben Menachem has been elected as Chairman of the Earnix Board of Directors. Mr. Ben Menachem is the founder and former CEO of Fundtech, a leading global provider of software to the financial services industry, which he led since its inception until its acquisition by D+H in 2015 for $1.25 billion. Haim Shani, co-founder and general partner of IGP, has also been appointed as a Director. Mr. Shani is the former CEO of NICE Systems, as well as the former Director General of the Israeli Ministry of Finance.
Both gentlemen bring extensive experience and a successful track-record of building high-tech companies into leading global providers in the highly competitive financial technology (FinTech) sector.
Mr. Ben Menachem said: “I am honored to have been selected Earnix’s Chairman, and I look forward to contributing to its purpose, vision and strategy. The investment enables us to capitalize on our successful business model and to solidify our position as a predictive analytics leader in the financial services software industry.”
Mr. Shani said: “IGP is very excited to join the Earnix family. We believe that Earnix has great potential in this dynamic high-growth predictive analytics market. We are extremely impressed by the quality of its employees, technology and products and I look forward to working with the management team as they implement their growth strategy.”
“This investment reflects our continued support and belief that Earnix is becoming the leading predictive analytics provider in the financial services industry,” commented Raffi Kesten, Managing Partner at JVP. “As the largest investor in Earnix, I want to welcome Reuven and Haim to the Earnix Board of Directors. Their past accomplishments as CEOs of large companies servicing the financial services industry speak for themselves, and I believe they will make a substantial contribution towards our future success.”
Earnix provides an advanced analytics platform designed for the financial services industry, which integrates real-time decision-making capabilities into the business process, delivering significant results.
Earnix’s modeling, algorithms, and Machine Learning capabilities automate the rapid deployment of customer-centric offers by considering variables such as price, product features, and distribution channels, to optimize KPIs such as revenue, profit, sales volume, and customer satisfaction.
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