MX, a Lehi, Utah-based data platform for banks, credit unions and fintechs, raised $100m in Series B funding.
The round, which brought total equity financing to $175m was led by Battery Ventures, with participation from new investors H.I.G. Growth Partners, Point72 Ventures, Sorenson Ventures, Pelion Venture Partners, and Cross Creek Capital, existing investors Industry Ventures, Digital Garage, TTV Capital, and Commerce Ventures; as well as from customers National Bank of Canada and Washington Federal Bank.
The company intends to use the funds to forge new partnerships, develop innovations, and accelerate its hiring efforts.
Founded in 2010 by Ryan Caldwell, CEO, MX is a data platform for banks, credit unions and fintechs, which enables clients and partners to collect, enhance, analyze, present and act on financial data. Using the platform and products, MX clients are able to understand customers in real time and increase digital engagement, deposits, and NPS scores by delivering an improved customer experience.
The company partners with more than 2,000 financial institutions and 43 of the top 50 digital banking providers.