Flybits secures $46 mln in Point72 Ventures-led Series C round
Toronto-based contextual data intelligence company Flybits has raised about $46 million (US$35 million) in a Series C financing. The round was led by Point72 Ventures, the venture capital fund of U.S. billionaire Steve Cohen. It was joined by Mastercard, Citi Ventures and Reinventure, as well as existing investors Portag3 Ventures, TD Bank Group and Information Venture Partners. Founded in 2013 by CEO Hossein Rahnama, Flybits leverages data science to help banks and other financial institutions connect with customers through more personalized experiences. It will use the funds raised to grow global teams, commercialize artificial-intelligence and machine-learning patents, enhance its technology, and develop a marketplace for creating new services.
