SAN DIEGO -

Point Predictive recently bolstered both its human and financial resources.

The San Diego-based company, which  provides machine learning solutions to the financing industry to curb fraud and streamline operations, announced that it has completed its Series B growth financing.

Napier Park Financial Partners led the investment round with participation from the company’s existing investor, Mosaik Partners.

Point Predictive also announced it has hired Michael Housman as its new chief technology officer and promoted Eric Werab to chief revenue officer to facilitate the rapid growth Point Predictive is experiencing.

One of the first Emerging 8 honorees, Point Predictive has gained wide adoption of its Ai+Ni scoring solutions across the automotive and fintech markets during the last 18 months. The company said its Auto Fraud Manager, IncomePASS and Synthetic ID Alert solutions are quickly becoming de facto standards for auto-finance companies experiencing significant growth in their portfolios and looking to control their risk and streamline underwriting.

Point Predictive explained the new funding will help the company aggressively expand the executive, product, sales, and marketing teams as well as continue to grow its data scientist and engineering teams.

Point Predictive said it plans to enhance its solution portfolio in the automotive industry and expand into the mortgage, personal lending and other industries with their patented technology solutions.

To lead this growth, the company has hired Housman as CTO and promoted Werab to CRO.

Housman joined Point Predictive from RapportBoost.ai where he served as its chief data science officer.

Werab has been with Point Predictive for three years as the vice president of product strategy. Prior to joining the company, Werab led a software business in the risk and accounting space at Fiserv.

Point Predictive acknowledged that it expects to announce additional members of the expanded executive team during the fourth quarter.

“We believe Point Predictive is poised to transform the lending industry with their unique brand of Artificial and Natural Intelligence technology and their powerful proprietary consortium data,” Napier Park partner Steven Piaker said in a news release.

“As fraud continues to grow globally, the team at Point Predictive has figured out a way to power more trust in lending by informing lenders which consumers and loan actors they can trust, and which they cannot,” Piaker continued.

“We were impressed with their ability to apply their technology across multiple lending industries — auto, mortgage and fintech — and are excited to participate in Point Predictive’s future growth,” he went on to say.

The investment round follows a transformative year during which both Point Predictive’s data consortium and customer roster experienced unprecedented growth.

The auto fraud consortium now aggregates more than four billion risk attributes sourced from more than 70 million consumer loan applications, including loan performance and fraud information, obtained from 35 finance companies nationwide spanning more than 75,000 franchise and independent dealers.

Every month, more than 2 million auto-finance applications are scored with Point Predictive’s Ai technology adding more than 170 million risk attributes to the consortium. 

“We are excited about the support from Napier Park and our current investor Mosaik Partners,” Point Predictive chief executive officer Tim Grace said. “Their investment, expertise in the space, and network will not only help us solidify our customer base in auto lending, mortgage lending and fintech, but it will also help us expand into new markets and delivery channels.

“We look forward to continuing our tradition of innovation and providing our customers and prospects with amazing results,” Grace went on to say.

In connection with the financing, Piaker will be joining Point Predictive’s board of directors.

For more information on Point Predictive and its solutions, send a message to info@pointpredictive.com.