Point Predictive Announces Completion of Series B Investment Round

Category: #Business
By: Saipriya Iyer
Date: 2020-09-25

Point Predictive Inc., a US-based AI technology firm providing machine learning solutions, has reportedly announced the completion of its Series B investment round. This funding round was led by Napier Park Financial Partners while Mosaik Partners, an existing investor of the company, also participated in the round.

Additionally, the company also announced the hiring of Michael Housman as the new Chief Technology Officer. Meanwhile, Eric Werab was also promoted to the post of Chief Revenue Officer to support the rapid growth the enterprise is experiencing right now.

The company’s Ai+Ni scoring solutions have witnessed immense adoption in the fintech and automotive markets for the past 18 months. Point Predictive’s IncomePASS, Auto Fraud Manager, as well as Synthetic ID Alert solutions are rapidly becoming the go-to standards for automotive lenders that are witnessing substantial growth into their portfolios and are looking to streamline underwriting and control their risks.

This new investment would help the firm to aggressively expand its executive, sales, marketing, and product teams as well as continue the expansion of engineering and data scientist teams. The company plans to enhance its solution portfolio within the automotive sector and foray into the personal lending, mortgage, and other sectors with its patented technology solutions.

To lead this development, the firm recruited Michael Housman as the new CTO and also promoted Eric Werab to the position of CRO. Michael Housman, holds an undergraduate degree from the prestigious Harvard University as well as a Ph.D. from the esteemed Wharton School, and would join the company from RapportBoost.ai, a California based firm, where he worked as the Chief Data Science Officer.

Eric Werab has worked as the Vice President of Product Strategy for three years in Point Predictive. Prior to this, Werab has worked at Fiserv as the Chief of a software business in risk and accounting domain. The firm hopes to announce other members of the expanded executive team in the fourth quarter.

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