Taktile, a New York-based SaaS company that allows businesses to build, run and evaluate automated decision flows quickly, has secured $20 million in Series A investment co-led by Index Ventures (invested in Topi and Atlantic Money) and Tiger Global.
The US company will use the funds to develop its product further and accelerate expansion in the United States.
“Today, too many businesses rely on automated decisions that they rarely revisit, which causes them to overlook critical risks, respond to market changes too late, and thus leave money on the table,” says Maik Taro Wehmeyer, co-founder, and CEO of Taktile.
“By allowing businesses to adjust their decision flows quickly, easily, and data-driven, we help them optimise decision accuracy, reduce risk, and significantly improve their margins. Combined with our off-the-shelf data integrations across the globe, this not only helps our customers improve their unit economics but also enables them to launch new lending and insurance products fast,” he says.
Help in making automated decisions
Founded in 2020 by Maximilian Eber and Maik Taro Wehmeyer, Taktile allows companies of all sizes to efficiently build, run, and evaluate automated decision flows without requiring developers to write complex code.
Businesses use it for decisions like which customers to lend to or what price to offer new customers.
The platform helps companies to bring products to the market faster, act proactively in a constantly changing environment, and eliminate guesswork for their most relevant decisions.
In the past year, Taktile has grown revenues by over 300% and currently powers more than 250,000 decisions every day.
The company currently has offices in New York, London, and Berlin and employs 45 people from 16 different nationalities. The company informed TFN that its leadership team consists of 50% women. The US company works with financial services companies globally, including Branch, Moss, and Rhino.
Taktile was part of the Y Combinator in 2020 and has an advisory board comprised of eight unicorn founders and executives worldwide, including Ross Mason (Founder, Mulesoft), Daniel Dines (Founder, Ui Path), and Olivier Pomel (Founder, Datadog).
Carlos Gonzales-Cadenas, Partner at Index Ventures, says, “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. I am excited about the product because better risk decisions directly impact the bottom-line and lie at the heart of every financial product.”