Flybits provides a platform that uses data and machine learning to deliver contextualized, personalized experiences and product recommendations for banks and other financial services providers. Its typical deployments surface targeted offers such as loans, credit cards, loyalty programs and other upsells tailored to individual customers. CEO and co-founder Hossein Rahnama says the company aims to help banks act as trusted "data vaults" that can enable services beyond traditional financial products. Flybits plans to deploy AI and machine-learning patents it has amassed and to build a data marketplace for banks, fintechs and other data providers to partner and create services. The company announced a $35M Series C and had previously raised around $15M; valuation was not disclosed. Its focus remains on enabling incumbents to catch up with digitally native competitors through hyper-personalization and contextual engagement. Flybits provides a context-as-a-service platform that helps enterprises navigate data intelligence and contextualization to create and deliver personalized customer experiences that drive digital engagement. The company is led by Founder and CEO Dr. Hossein Rahnama and is based in Toronto, Canada. Since launching in 2013, Flybits has raised a total of $14M. The platform is positioned to reduce complexity for enterprises seeking to use contextual data to personalize interactions. Flybits plans to use new funding to ramp up sales efforts in the United States and Europe, reinforce its existing global presence, and expand its product and engineering teams. The company’s near-term focus is growth and commercial expansion rather than disclosed operating metrics. Flybits offers a SaaS-based platform that enables consumer-focused enterprises to expand and manage highly personalized mobile experiences. The platform supports iOS and Android devices and integrates with emerging Internet-of-Things technologies. Flybits serves customers in retail, transportation, banking and event management across North America and Europe. The company is led by Founder and Chief Product Officer Dr. Hossein Rahnama and is based in Palo Alto, CA and Toronto, Canada. Financially, Flybits completed a second closing of its Series A, raising $4.75M. The company plans to use the funds to expand its presence in more than 21 countries. Flybits develops tools that enable predictive, context-aware computing environments for mobile, wearable and connected devices, leveraging data and sensing capabilities to customize contextual experiences. Its platform targets use cases including smarter cities, connected stadiums, smart corporate campuses, shopping malls, conference venues and fashion shows. The company was spun off from Ryerson University in 2012 and incubated its technology at the Ryerson Digital Media Zone and Vodafone Xone. Flybits is headquartered in Toronto and maintains smaller offices in London and New York. It intends to use recent funding to advance product development and pursue international growth in the United States and Europe. Financially, Flybits closed a $3.75M Series A and has raised a total of $4.05M to date.

Total raised

$50M

Funding rounds

4

Latest round

Series C

Latest activity

Jul 2019