Seed Funds for Behavioral Intell Platform ForMotiv

In the US, behavioral data capture and predictive analytics platform ForMotiv has raised $6m in a Seed+ round of funding, which it will use to make senior hires across tech, product and sales.

ForMotiv helps companies predict user intent in real time, using a proprietary tool which collects hundreds of digital behavioral data points while customers/agents fill out applications and claims forms, and then translates it into what the firm calls 'Intent Intelligence'.

As well as helping financial service companies understand customer experience, ForMotiv is being used to help optimize agent workflows, remarket to high-intent customers, predict cart abandonment, identify instances of application misrepresentation, and to predict risk and fraud.

New funding was led by Vestigo Ventures with participation from Plug & Play Ventures, DreamIt Ventures and others. ForMotiv CEO Bill Conners (pictured) comments: 'The pandemic expedited digital transformation for several industries - insurance being one of them. With enterprises seeking solutions to better understand digital behavior and improve customer experience, ForMotiv thrived and remained profitable. I'm thankful to be in a position where this funding is going toward scaling our team as we continue onboarding global insurance carriers and financial services companies'.

Web site: www.formotiv.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.