Seattle startup Attunely raises $6M to help debt collection agencies collect payment – GeekWire
Attunely is raising more cash to support increasing demand for its machine learning platform used by debt collection agencies. The Seattle startup raised a $6 million Series A round from Framework Venture Partners, Anthos Capital, Vulcan Capital, and others.
Founded in 2018 and spun out of Seattle-based startup studio Pioneer Square Labs, Attunely crunches data related to debt records and consumer interaction history, in addition to other information such as macroeconomic trends, to produce a “score” for consumers who owe payment.
Attunely CEO Scott Ferris said the company saw a surge in activity earlier this year from creditors and recovery agencies that are “seeking technology solutions to optimize revenue recovery on call center resource constraints.”
“In addition, they are hyper-sensitive to only contacting consumers who are receptive and have a propensity to pay,” Ferris added. “Our machine learning platform does not require personally identifiable information, so our dynamic scoring services primarily aids our customers to efficiently allocate call center resources to those consumers who exhibit financial health behaviors.”
Ferris was most recently corporate vice president of digital ventures for Starbucks and previously was an exec at aQuantive, the advertising network acquired by Microsoft for $6 billion in 2007. While there, Ferris met Mike Galgon, another ex-aQuantive executive who is now managing director at PSL. The other Attunely co-founders are CTO Ryan Kosai, who was previously CTO at PSL, and Trip Edwards, a former senior associate at PSL.
Attunely employees took salary cuts but the company avoided layoffs. Total funding to date is $9 million. The company has 16 employees and is hiring.
Andrew Lugsdin, partner at Framework Venture Partners, will join Attunely’s board.