Powerlytics

High-Level Overview

Powerlytics is a proprietary data platform that delivers comprehensive financial insights on all US households and businesses, primarily derived from 20 years of IRS tax returns, US Census, and Department of Labor data.[1][2][5] It serves financial services companies in banking, insurance, and wealth & asset management by enabling frictionless income verification, deposit and investable asset insights, small business revenue estimation, and AI-powered models for marketing, risk management, and predictive analytics.[1][2][3] The platform solves the problem of inaccurate, incomplete financial data—often from subjective surveys—by providing objective, granular, consistent data that improves decision-making, reduces risk, and drives revenue growth.[2][5] Powerlytics has demonstrated strong momentum, with 45% revenue growth from 2022 to 2023 and similar growth projected for 2024, supported by nearly $16 million in funding including a recent Series B extension; it now plans to double headcount in marketing and data science.[4]

Origin Story

Powerlytics was founded in 2011 in Doylestown, Pennsylvania, by Kevin Sheetz (CEO and Co-Founder) and a team with deep expertise in financial services, government consulting, and data science.[2][4] The idea emerged from founders' observations that critical risk and marketing decisions in finance lacked access to accurate consumer and small-to-mid-sized business financial data, despite sophisticated needs.[2] Leveraging proprietary IP on government data sources, academic research, and predictive algorithms, they built a platform transforming tax returns into actionable intelligence—without using individual taxpayer details.[1][2][5] Early traction came from partnerships with top banks, alternative lenders, and wealth firms; pivotal moments include a $4 million Series B in 2020 and a recent funding round led by Curql Collective and Tribeca Early-Stage Ventures, adding board members and fueling expansion into credit unions.[1][4]

Core Differentiators

Powerlytics stands out in the financial data market through these key strengths:

• Unmatched Data Accuracy and Scope: Derives insights from IRS tax returns (the "consistent source of truth" with penalties for inaccuracy), covering 154 million households/209 million adults and 30 million businesses—far superior to subjective survey data.[2][5]
• Granular, Objective Insights: Provides frictionless income estimation/verification, household deposits/investable assets, business revenue, and thousands of variables for AI/ML models in prospect targeting, loan performance, and collections.[1][3][4]
• Flexible Delivery and Tools: Offers API for real-time access, customizable data cubes, and web-based tools tailored for risk management, marketing, and predictive analytics.[3]
• Proven AI/ML Integration: Powers tools like delinquency prediction with Akuvo and engagement scoring with Trellance, leveraging unique predictive data for financial firms.[4]
• Sector Focus with Partnerships: Targets banking, insurance, and wealth management, with strategic ties like Curql for credit unions, driving scalability.[1][3]

Role in the Broader Tech Landscape

Powerlytics rides the wave of AI and big data in fintech, where demand for precise, privacy-compliant financial intelligence fuels personalized lending, targeted marketing, and risk optimization amid economic uncertainty.[4] Its timing is ideal: post-pandemic growth in digital finance, regulatory scrutiny on data accuracy, and AI adoption create tailwinds, as firms seek alternatives to incomplete public data.[2][4][5] Market forces like rising loan delinquencies and competition for high-value customers favor its predictive edge, helping clients outperform via better profitability.[1][2] By enabling fintech innovations for traditional players like banks and credit unions, Powerlytics influences the ecosystem, bridging government-sourced data with commercial AI tools and accelerating sector-wide efficiency.[1][3][4]

Quick Take & Future Outlook

Powerlytics is poised for accelerated expansion, with plans to double headcount and invest in AI/ML amid surging demand for its unique data.[4] Trends like generative AI for finance, real-time risk analytics, and credit union digitization will shape its path, potentially unlocking new sectors beyond core finance.[3][4] Its influence may evolve from data provider to full AI platform leader, deepening partnerships and capturing more market share as data-driven decisions become table stakes. This positions Powerlytics as a quiet powerhouse in fintech's data revolution, empowering smarter growth from its tax-data foundation.[1][2]