CAMBRIDGE, Mass., April 4, 2018 /PRNewswire/ — Vestigo Ventures, an early-stage venture capital firm focused on transformative fintech investments, announced today that it participated in Series B financing round for Micronotes, a cloud-based interview marketing company for financial institutions. The financing was led by TTV Capital, an Atlanta-based early-stage venture capital firm focused exclusively on investing in fintech companies.
Founded by serial entrepreneurs and MIT Sloan School alumni, Devon Kinkead and Christian Klacko, Micronotes helps financial institutions retain and deepen relationships with their customers by providing a sales and marketing platform-as-a-service (PaaS) that leverages machine learning to match and validate banking products and services with individual users. The funds raised will be used by Micronotes to support rapid scaling of its platform, including sales, marketing and engineering.
With a majority of consumer banking transactions now conducted online, Micronotes is at the forefront of recognizing the need for financial institutions to find new ways to engage and deepen relationships with customers within an estimated $1-2 billion segment. Leveraging the power of artificial intelligence (AI) and machine learning, Micronotes empowers financial institutions to build stronger and more robust relationships with their increasingly digital customers, solving a crucial need in the market. Micronotes fits within Vestigo’s strategy to invest in companies and management teams that provide “operations solutions,” enabling the financial sector to build stronger customer relationships and generate better client outcomes.
“Devon and Christian represent the rare combination of deep expertise in AI with the ability to achieve superior business outcomes. Today, the challenge of leveraging AI is not the technology or even the data, it’s about finding people who can ask the right questions and build a platform that gets smarter over time; the management team at Micronotes has done just that,” said Ian Sheridan, co-founder and managing director of Vestigo Ventures, and a member of the Board of Directors for Micronotes.
“Micronotes’ vision is to interview the world’s customers, all seven billion, starting with banking customers,” said Devon Kinkead, CEO and co-founder of Micronotes. “The team at Vestigo understands our mission and how data and technology can be applied to financial services to create better, stronger and more profitable customer experiences. We look forward to leveraging Vestigo’s strong operational expertise within financial services to rapidly expand into our beachhead market.”