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Personetics Secures $6.5M Funding from Carmel Ventures and Sequoia Capital


New York, NY, May 25, 2011 --(PR.com)-- Personetics, a provider of Next Generation Customer Interactions Technology for The Financial Services Industry, today announced the completion of $6.5M fund raising from Carmel Ventures and Sequoia Capital. Following the investment, Avi Zeevi of Carmel Ventures and Shmil Levy, of Sequoia Capital will be joining Personetics board of directors. The company will use the funding to further develop its next generation solutions and launch business development, marketing and sales operations.

Personetics mission is to help financial institutions respond to a major shift in the consumers’ behavior – the channels that they use, and the user experience they expect.

The company has developed Personetics Digital Banker™, a self-service technology that uses customer profiles and automated intelligence to drive customer centric processes across multiple channels, including: Web, mobile and text banking. The solution is designed to handle a wide variety of customer interactions and eliminates the need to switch channels from self-service to the call center. Personetics Digital Banker empowers the consumer and increases user satisfaction, while significantly reducing cost.

Personetics was founded in 2010 by David Sosna and David Govrin, Co-Founders of Actimize, a former portfolio company of Carmel Ventures, which was acquired by Nice Systems for $280M in 2007. Personetics is headquartered in New York, with its R&D based in Israel.

“We are proud to be joined by two exceptional VCs like Carmel and Sequoia and are confident that we will gain a lot from their strategic contribution,” said David Sosna, CEO of Personetics.

“We are happy to cooperate again with this excellent entrepreneurial and management team, and to be joined by a partner like Sequoia Capital,” said Avi Zeevi, General Partner and Co-Founder of Carmel Ventures. “We believe that Personetics developed a disruptive solution that will truly change the way Financial Services Organizations interact with their customers.”

“Personetics’ solution solves a critical challenge for the financial industry: providing great customer service in a cost effective manner,” said Shmil Levy, Partner at Sequoia Capital. “We invested in Personetics because of their fresh approach to this challenge and because of their unique technology platform. We are thrilled to be partnering with Personetics’ founders, which have a long and successful track record in the financial services industry.”

About Personetics
Personetics provides next generation customer interactions technology for financial services that empowers the consumer and increases user satisfaction, while significantly reducing cost.

Founded by a team of seasoned financial services technology entrepreneurs with deep experience in machine learning and analytics — augmented by experienced domain experts from within the financial services industry —our mission is to help financial institutions respond to a major shift in the consumers’ behavior – the channels that they use, and the user experience they expect.

Personetics is funded by Carmel Ventures and Sequoia Capital. We are rapidly expanding our operations worldwide, and are looking for talented people in both our Tel Aviv and New York offices. For more information, please visit www.personetics.com

About Carmel
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel’s top-tier venture capital funds. Carmel’s investments are focused primarily on early stage companies in the fields of Software, Internet, Digital Media, Communications, Semiconductors, and Consumer Electronics. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. Carmel, headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources.

Carmel is an affiliate of the Viola Group, the largest technology focused Private Equity group in Israel with $2B under management. For more information, please visit www.carmelventures.com.

About Sequoia
Since 1972, Sequoia Capital has provided startup venture capital for very smart people who want to turn ideas into companies. As the “Entrepreneurs Behind the Entrepreneurs”, Sequoia Capital’s Partners have worked with innovators such as Sandy Lerner and Len Bozack of Cisco Systems, Jerry Yang and David Filo of Yahoo!, Gaurav Garg of Redback Networks, Larry Page and Sergey Brin of Google, Dan Warmenhoven of Network Appliance, T.J. Rodgers of Cypress Semiconductor, Lou Tomasetta of Vitesse Semiconductor, Steve Jobs of Apple Computer and Larry Ellison of Oracle. The companies organized by Sequoia Capital now account for about 10% of the value of NASDAQ. To learn more about Sequoia Capital visit www.sequoiacap.com.

Contact info:
Hila Shitrit Nissim
Email: hilas@carmelventures.com
Tel: +972-9-9720421
www.carmelventures.com

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Contact Information
Carmel Ventures
Hila Shitrit Nissim
+972-9-9720400
Contact
www.carmelventures.com

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