Taktile receives $20M in funding from eight unicorn founders to assist businesses with decision automation
- ByStartupStory | November 23, 2022
Tiger Global and Index Ventures, which previously invested in Topi and Atlantic Money and Topi, have co-led a $20 million Series A investment in Taktile, a New York-based SaaS firm that enables enterprises to swiftly design, operate, and assess automated decision processes. The US company plans to utilise the money to expand quickly in the US and further develop its product.
According to Maik Taro Wehmeyer, co-founder and CEO of Taktile, “Too many firms today rely on automatic judgments that they rarely revisit, causing them to overlook significant risks, respond to market shifts too late, and therefore leave money on the table.”
“We help organisations optimise decision accuracy, decrease risk, and considerably increase their profitability by enabling them to alter their decision flows quickly, easily, and data-driven. This, together with our global off-the-shelf data integrations, not only enables our clients to quickly launch new loan and insurance products but also helps our customers’ unit economics.
By eliminating the need for developers to write complex code, Taktile was established in 2020 by Maximilian Eber and Maik Taro Wehmeyer. Taktile enables businesses of all sizes to efficiently build, run, and evaluate automated decision flows. Businesses use it to make decisions like who to lend money to and how much to charge new clients. The platform enables businesses to advertise items more quickly, take proactive action in a setting that is always changing, and remove uncertainty from their most important choices. Taktile’s revenue has increased by over 300% in the last year, and it now supports more than 250,000 daily decisions. The company currently employs 45 individuals from 16 different nationalities and has offices in New York, London, and Berlin. The organisation told TFN that 50% of its leadership team is made up of women. Branch, Moss, and Rhino are just a few of the international financial services firms that the US company collaborates with.
With an advisory board made up of eight unicorn founders and executives from around the world, including Ross Mason (Founder, Mulesoft), Daniel Dines (Founder, Ui Path), and Olivier Pomel, Taktile was a part of the Y Combinator in 2020. “Taktile’s platform fills a gaping hole in the fintech stack by unblocking risk teams, enabling them to quickly build, test, and evolve their risk models and rules without a heavy dependence on engineering,” says Carlos Gonzales-Cadenas, Partner at Index Ventures. Better risk management is at the core of every financial product, which is why I am enthusiastic about the product.
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