AI startup Point Predictive secured undisclosed Series B Growth Financing

Point Predictive Inc., a San Diego based company that provides machine learning solutions to the lending industry, has now completed its Series B growth funding.

Point Predictive is founded in 2013 by Joe Jackson. It is an AI technology company with deep expertise in building machine learning scoring models that have been widely deployed by lenders and banks. Its solutions enable the lenders to fund more loans using a patented combination of Artificial and Natural Intelligence that powers machine learning risk assessments.

Steven Piaker, Partner at Napier Park, said, "We believe Point Predictive is poised to transform the lending industry with their unique brand of Artificial and Natural Intelligence technology and their powerful proprietary consortium data. As fraud continues to grow globally, the team at Point Predictive has figured out a way to power more trust in lending by informing lenders which consumers and loan actors they can trust, and which they cannot. We were impressed with their ability to apply their technology across multiple lending industries – auto, mortgage, and fintech – and are excited to participate in Point Predictive’s future growth."

Tim Grace, CEO of Point Predictive, said, "We are excited about the support from Napier Park and our current investor Mosaik Partners. Their investment, expertise in the space, and network will not only help us solidify our customer base in auto lending, mortgage lending and fintech, but it will also help us expand into new markets and delivery channels. We look forward to continuing our tradition of innovation and providing our customers and prospects with amazing results."

The round was backed by the Napier Park Financial Partners with participation from Mosaik Partners.

The new funding will allow the company to expand the executive, sales & marketing, and product teams. The company also intends to use newly raised funds to grow its engineering and data scientist teams, notes the announcement.

The company also plans to expand into mortgage, personal lending and further into automotive industry.