AUSTIN, Texas--(BUSINESS WIRE)--Today, Revio announced $2.5 million in Series A venture funding led by BankTech Ventures, an investment fund focused on enhancing community banks, and EJF Ventures, a venture capital fund focused on fintech and banking technology. The financing will enable Revio to accelerate the adoption of its growth-focused, customer-insights platform. Revio’s platform enables community and regional financial institutions to identify actionable opportunities to grow relationships and increase customer retention, lifetime value, and profitability.
Revio is a sales and marketing enablement platform that helps banks optimize their operations. By analyzing customer data using machine learning and data models, Revio can better understand behavior and recommend the next-best product. Revio uncovers opportunities in commercial and retail deposit, loan, credit card, insurance, wealth, treasury management, and merchant services. Sales teams, marketers, and relationship managers then are able to use Revio’s segmentation to prioritize customer opportunities for personalized outreach and marketing efforts.
“With the strategic backing of both BankTech and EJF Ventures, we're in a position to further accelerate our platform development, market adoption, and impact to help community banks enhance competitiveness,” said Brian Bauer, CEO of Revio. “This not only brings capital to fuel our growth, but also provides us with partners that have a deep understanding and valuable networks in the banking technology sector.”
Revio is already serving community and regional banks across the country and developed their platform in collaboration with a handful of bank clients, including Sunwest Bank. The core agnostic technology works with any bank or credit union and also integrates with any core system.
“Community banks are seeking partners who can help them turn data into actionable information,” said Carey Ransom, Managing Director at BankTech Ventures. “What Revio is doing is unique. They are putting insight-driven opportunities directly into the hands of the people at the bank who can take specific steps to grow customer relationships. We’ve seen this in action, too, as one of our bank partners spent the time to pilot Revio and is now live with the product, already showing revenue and deposit growth. That was a contributor in our investment decision, and now that bank will be a great use-case example for other banks in our fund.”
Revio complements existing marketing and sales strategies for new customer acquisition by uncovering actionable opportunities within the existing customer base. A recent case study by Revio found $23 billion in expansion opportunities across 16 banks that were included in the study.
“Our partnership enables Revio to scale an important solution for community and regional banks that help financial institutions thrive,” said Jonathan Bresler, Managing Partner at EJF Ventures. “Revio’s focus on revenue and deposit growth is exactly what many institutions are looking to partner on, especially in this environment.”
About Revio
Revio is a revenue-enabling, customer-insights SaaS platform that transforms bank data into actionable opportunities and informs growth strategies for community banks. Revio’s insights enable personalized engagement at scale to increase revenue and deposits, equipping marketers, relationship managers, sales teams, and executives with an understanding of where to invest efforts to achieve greater customer satisfaction, retention, and lifetime value. To learn more, visit https://getrevio.ai/.
About BankTech Ventures
BankTech Ventures identifies and invests in leading bank technology companies and is deeply entrenched in community banking to ensure its companies work effectively and efficiently with banks to deliver maximum value and impact. BankTech’s unparalleled ecosystem is designed to deliver compelling innovation with community banks at the center of it all - bringing together bankers, industry organizations, and tech founders to work collaboratively to accelerate innovation in banking. Follow BankTech on LinkedIn and X. For more information, visit https://www.banktechventures.com/
About EJF Capital
EJF Capital LLC is a global alternative asset management firm headquartered outside of Washington, D.C. with offices in London, England and Shanghai, China. As of June 30, 2023, EJF manages approximately $6.6 billion across a diverse group of alternative asset strategies. The firm was founded in 2005 by Manny Friedman and Neal Wilson. To learn more, please visit https://www.ejfcap.com/ and please read additional Risks and Limitations located here.
Notice Regarding Testimonials
Testimonials appearing in this release reflect the business experiences of current portfolio company executives, and do not reflect the investment advisory experience of any client or investor in any EJF client. No executive was compensated directly for their testimonial. Certain executives may be entitled to receive compensation for their services to portfolio companies, including equity grants, profits interests, board of directors’ fees, consulting fees and other advisory fees, as well as co-investment opportunities. These opportunities create an incentive for executives to make positive remarks on their experiences with EJF.
