Klarivis, a US-based banking data analytics startup, has raised $11 million in its Series B funding round anchored by technology-focused equity firm Blueprint Equity, according to an announcement.
Founded in February 2019, KlariVis provides data analytics solutions for community banks and credit unions. The company said it has doubled its revenue and customer count year-over-yer and has 100 clients.
The $11-million fresh funding will be used for advancing the startup’s engineering, product development, customer success, and sales and marketing, per the announcement.
“As we expand our market share, our primary focus is empowering an increasing number of community banks and credit unions with a revolutionary approach to data-driven insights,” KlariVis founder and CEO Kim Snyder said in a statement. “This is an opportune time for us to double down on what’s working.”
Snyder was chief financial officer of Valley Bank before it was acquired by BNC Bancorp in 2015.
KlariVis enables banks of any size to accelerate growth by “leveraging the data that is locked in its siloed banking systems.”
Developed on a modern technology stack, KlariVis lets banks “see data in a way that empowers their teams and customers to live and work better.”
Bobby Ocampo, co-founder and managing partner of Blueprint Equity, said the investment will help the KlariVis maximize its potential with Blueprint’s capital and internal platform team.
“We’ve been in dialogue with Kim for years and it’s been exciting to witness their growth,” Ocampo said.
In March last year, CLA (CliftonLarsonAllen LLP), which claims to be the eighth largest professional services firm in the United States, and KlariVis announced a new nationwide strategic relationship “to support community banks and their ability to strategically leverage data.”