Attunely, the startup that uses machine learning to help companies maximize their recoveries, yesterday announced it had raised $9 million in additional financing to help fund its growth.
A number of investors were part of this round of financing, including Framework Venture Partners, Anthos Capital, and Vulcan Capital. As part of the deal, Andrew Lugsdin, a partner at Framework Venture Partners was added to Attunely’s Board of Directors.
In a press release announcing the new funding, the company said it would use the money to grow its team in the areas of “data science, data and security software engineers, client success resources, product/program management, and marketing.”
Attunely offers a number of scoring models for collection companies, including a propensity to pay model, a liquidation model, a time of day model, and an omnichannel model.
“In the current economic climate, we believe machine learning is well suited to enable creditors, lenders and revenue cycle management agencies to employ more tailored engagements during and beyond the pandemic-driven unemployment environment,” said Scott Ferris, founder and chief executive of Attunely, in a statement. “Undoubtedly, COVID-19, has created a ‘new normal’. Attunely’s machine learning models are designed to provide greater flexibility and efficiency during a transformative moment for the economy at large.”
In a published report, Ferris said that Attunely has seen a “surge in activity” this year from companies looking to leverage the company’s technology to maximize their recovery rates.
“In addition, they are hyper-sensitive to only contacting consumers who are receptive and have a propensity to pay,” Ferris added. “Our machine learning platform does not require personally identifiable information, so our dynamic scoring services primarily aids our customers to efficiently allocate call center resources to those consumers who exhibit financial health behaviors.”
