AI Startup BlastPoint Exceeds $8M Seed Funding to Accelerate Expansion of Customer Insights Solution
Businesses Make Smart Decisions and Grow Revenue with BlastPoint’s Predictive Machine Learning Technology
PITTSBURGH–(BUSINESS WIRE)–BlastPoint, a minority-led AI consumer analytics trailblazer, surpasses $8 million in funding with the recent investment from Curql. The company will use the capital to accelerate its upward trajectory as the industry’s most personalizable and accurate customer insights solution, empowering businesses across highly regulated industries—including utilities, financial institutions, automotive, insurance, and more—to optimize customer engagement, surpass benchmarks, generate revenue, and achieve growth.
“Building on our success in the utility market, BlastPoint is expanding to help financial institutions grow revenue and retain customers with customized data that is accessible and usable on a day-to-day basis,” said Alison Alvarez, BlastPoint CEO and Co-founder. “Since its inception, BlastPoint keeps raising the bar to deliver an AI platform that transforms customer data into meaningful insights that drive actions and deliver tangible business results.”
The investment builds upon BlastPoint’s recent AI innovations and acceleration of growth, including:
- $5.25 million in new seed funding co-led by Curql, Muditā Venture Partners LLC, and Ann Arbor, Michigan-based eLab Ventures in 2023
- 50% headcount growth in 2023, including key hires of data scientists, engineering, operations, and more
- 3X year-over-year revenue growth as of September 2023 with record increase in profits over the past 3 years
- Nominated for Pgh Startup Community Awards: 2023 Startup of the Year, Hackernoon: 2023 Top 20 Startup of the Year, and winner of StartUs Insights: 2022 Top Customer Relationship Management Solutions for Energy Companies
- Author of the Annual EV Adoption Outlook Report, which predicts electric vehicle (EV) trends
BlastPoint investors recognize the AI customer intelligence market opportunity and growing demand for BlastPoint’s innovative predictive analytic models and machine learning technology.
“Leveraging artificial intelligence in a way that’s secure, accessible, and helps credit unions dramatically increase efficiency is incredibly exciting to us,” said Curql Collective President and CEO Nick Evens. “BlastPoint impresses us with technology that helps credit unions better understand member data, predict behavior, and ultimately become more member-focused organizations.”
As part of the raise, BlastPoint plans to boost customer intelligence across industries through product enhancements, research, and strategic market expansion. This includes the introduction of BlastPoint Foundations to democratize data-driven decision-making by making insights accessible to clients with diverse financial availabilities and reinforcing BlastPoint’s dedication to inclusivity.
BlastPoint was co-founded in 2016 by Alison Alvarez, CEO and Tomer Borenstein, CTO:
- Alvarez is a Latina entrepreneur trailblazer, Pgh Startup Community Awards: 2023 Founder of the Year, 2023 EY Entrepreneurs Access Network member, Fire Awards: 2022 Rising Founder recipient, 2016 Swartz Fellow, and 2003 NSF AI Fellow
- Borenstein is a 2022 Top US Data Visualization CTO and 2017 Business Times’ 30 under 30 award recipient
BlastPoint’s unique approach to machine learning removes the idea of black boxes. By thoroughly auditing models, BlastPoint ensures unbiased training to deliver accurate AI outputs that are clear and justifiable. Utilizing diverse datasets, updated daily, BlastPoint’s models gather insights from all segments of society and adapt as consumer preferences shift to support equitable and informed decision-making.
“I’m confident that every marketing dollar spent using BlastPoint AI-driven data is spent in a smarter, more targeted way than before,” said Eric Ebbert, River Valley Credit Union, SVP, Sales & Marketing. “With BlastPoint, River Valley Credit Union can create models using past member behaviors to recognize and predict the behaviors of other members and dive deeper into existing members to create look-alike targets for other media.”
BlastPoint customers increase digital engagement by 670%, surpass social media benchmarks by 30%, save $1.3 million by enrolling more customers in paperless billing, and more. Learn more at https://blastpoint.com/bp-case-studies/.
About BlastPoint
BlastPoint, Inc., is a B2B provider of big data and analytics solutions that companies across sectors rely on to optimize revenue growth. Serving businesses across highly regulated industries—including utilities, financial institutions, automotive, insurance, and more—BlastPoint helps companies discover, target, and engage the humans in their data. Learn more at https://blastpoint.com/.
Contacts
Lorraine Kauffman-Hall, for BlastPoint, 704-819-9070, [email protected]
