Stratyfy, a New York-based award-winning innovator of machine learning solutions that mitigate risk, remove bias, and enable inclusive lending for financial institutions, announces that it raised $10 million in funding.
The round was co-led by Truist Ventures and Zeal Capital Partners and includes prominent investors such as Mendon Venture Partners, The 98, FIS, and serial entrepreneur Barry J. Glick.
The capital will be used to fuel innovation that uniquely addresses the challenges financial institutions face when adopting AI-driven decision-making.
"Stratyfy is growing fast as financial institutions recognize the urgent need to improve transparency and reduce bias in their decision processes. With increased adoption of AI and machine learning, transparency and controls around these solutions are essential so that the biases of our past do not encode into our future," said Laura Kornhauser, co-founder and CEO of Stratyfy. "Our investors share our vision and understand the complex needs of our customers. We are uniquely positioned to address these needs with our proven technology and talented team."
Stratyfy credit risk, fraud detection, and bias mitigation tools allow financial institutions to consider a broader view of factors that better inform credit decisions without increasing risks.
Company: Stratyfy Inc.
Funding Month: March 2023
Lead Investors: Truist Ventures and Zeal Capital Partners
Additional Investors: Mendon Venture Partners, The 98, FIS, and Barry J. Glick
Company Website: https://stratyfy.com/
Software Category: Predictive Analytics and Decision Management Solutions
About the Company: Stratyfy works with financial institutions to implement AI and machine learning solutions addressing many critical operations, including automating credit risk assessment, fraud detection, bias mitigation, and other complex tasks without new operational or regulatory risks. Stratyfy's transparent and interpretable solutions help institutions serve more customers by seamlessly combining automated data evaluation with the wisdom of real people to make better, faster decisions without bias or unnecessary risk. Stratyfy is on a mission to bring greater transparency and less bias to critical financial decisions that impact millions of people