MX, a data platform for banks, credit unions, and fintechs, announced on Tuesday it secured $100 million through its latest investment round, which was led by Battery Ventures, with participation from new investors H.I.G. Growth Partners, Point72 Ventures, Sorenson Ventures, Pelion Venture Partners, and Cross Creek Capital; from existing investors Industry Ventures, Digital Garage, TTV Capital, and Commerce Ventures; as well as from customers National Bank of Canada and Washington Federal Bank.
Founded in 2010, MX describes itself as a company that enables financial institutions and fintechs to gather, enrich, present and act on data.
“MX puts a user’s data on center stage, molding it into a cohesive, intelligible, and interactive visualization. As a result, users engage more often and more deeply with your digital banking products. At MX, we’re all about creating value. We believe finance can be simpler, more useful, and even enjoyable. We’re passionate about what we do, we have fun, and we trust each other as we work hard. It’s a good life.”
While sharing more details about the company, Ryan Caldwell, Founder and CEO of MX, stated:
“MX has been growing rapidly while operating profitably the past two years. The financial industry is at an exciting inflection point and this funding will help fuel our growth exponentially. “The strategic partners we selected give us even deeper market expertise while broadening our reach throughout the financial services industry. This investment further validates and gives fuel to MX’s vision to empower the world to be financially strong by changing the way financial institutions serve their customers – all starting with enhanced data.”
Michael Brown, General Partner of Battery Ventures, and new MX board member, added:
“The use of data is essential to every industry, including financial services, and we are thrilled to support MX in its mission to leverage data to help drive better customer experience and deeper engagement for banks, credit unions and fintechs; it leads to financial strength for everyone. The company is already powering some of the top financial institutions in the world and is uniquely positioned to provide the smart aggregation and insights that the financial industry will need.”
