Los Angeles, California Aug 1, 2020 (Issuewire.com) - Maroon Insights, a leading provider of predictive credit risk and sales intelligence solutions, has announced it has closed a pre-Series A financing round. Lightyear Capital LLC led the round along with participation from previous investors and angels. "Our focus has been to invest in high-tech companies and Maroon’s success in deploying scalable machine learning-based use cases in sales, marketing, and credit risk is a perfect fit for our portfolio of growing companies," said Sebastien Massicotte, managing partner at Lightyear Capital LLC. This is the 2nd round of funding Maroon Insights has raised since incubating in 2016.
“Maroon has positioned itself to be a technology leader in the commercial lending credit decisioning and monitoring space,” said Maroon's Founder and Managing Partner, Anant Sharma. “Additionally, the added capital helps us further our footprint into the credit risk space in the North America region.”
The funding will allow Maroon to expand the capabilities of its credit monitoring platform and also grow its North America footprint. Maroon’s proprietary technology platform currently features the first comprehensive risk management platform that allows banks to fully-integrate their data sources along with seeking an external view about their lenders and obtain risk insights through real-time notifications. The power to build predictive models on these integrated datasets allows banks to significantly lower the value at risk. Deep learning models with Maroon have shown up to 86% confidence levels in predicting early-stage delinquencies signals and allow effective handling fraud.
Johnny Ramondino, Partner - Lightyear Capital, who will be joining Maroon as a board member said: "We are delighted with our partnership. Maroon exemplifies Lightyear's vision: Accelerate delivering innovative technology to customers. Maroon has proven to have a unique value proposition to transform credit assessment and monitoring. In any economy, this is a big deal but even more so in today’s environment where Covid-19 is disrupting existing business cycles, there is a high demand for a better approach. Maroon is the answer.”
Maroon has developed a unique credit decisioning and monitoring platform, built on machine learning, which analyzes tens of thousands of data points from internal, external, and metadata sources to effectively evaluate creditworthiness and predict the probability of default. Maroon’s technology identifies signals leading to first payment default and also discovers early-stage delinquency signals.
"Our patented technology helps discover and rank order over 40 risk signals from internal and external data in near real-time allows credit underwriters and monitors a very powerful tool to make quick decisions", said Mehul Dhikonia, a lead data scientist at Maroon.
“Maroon is disrupting a sector that’s at the forefront in dealing with the impact of Covid-19 and is ripe for change to its traditional approach to credit underwriting and management. In Lightyear Capital we have a partner who understands the market very well and is helping us realize our goal of achieving high efficiency in the commercial lending space" Anant Sharma, Founder and Managing Partner at Maroon.
About Maroon Insights
Maroon Insights, Maroon.ai offers a suite of products that help banks and enterprises deal with credit risk and sales intelligence. As the market leader, Maroon's proven applications combine billions of signals and apply statistical and natural language processing models to help drive predictable credit risk and sales performance. Companies of all sizes including SAP, ADP, Wex, CBRE and Tata Communications use Maroon Insights to deliver proven value, ultimately resulting in increased profitability and ultimately higher conversions. Maroon Insights has headquarters in Atlanta, Georgia. To learn more, please visit www.maroon.ai or write to engage@maroon.ai.
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