Powerlytics, a Doylestown, Pa.-based data platform provider, raised $4m in funding.
Brewer Lane Ventures, a venture capital firm with a fintech focus, made the investment. In conjunction with the funding, Brewer Lane Ventures’ founder, John Kim, former president and Chief Investment Officer of New York Life, will be joining the board of Powerlytics.
The company intends to use the funds to grow all aspects of the business, and increase its sales, data science, and product management teams.
Founded in 2011 by Kevin Sheetz, CEO, Powerlytics provides a proprietary big data analytics platform that analyzes anonymized financial information from publicly available U.S. government sources and reconstructs it into actionable financial information that give a comprehensive financial view of the over 200 million adults and 30 million businesses that comprise the American economy.
Major U.S. corporations and financial services providers are using Powerlytics’ data to manage risk with both individual business and consumer customers and portfolios, discover potential markets, drive corporate strategy, develop digital marketing campaigns, benchmark performance, enhance both business and consumer target marketing.