Clinc tops $4.5m in annual revenue
Conversational AI platform for banks Clinc topped off a year of “explosive growth” in 2017 by generating more than $4.5 million in annual revenue. The strong revenue numbers come as the Michigan-based firm announces the hiring of technology executive Helen Yu (pictured) as its chief growth officer, writes David Penn at Finovate (FinTech Futures‘ sister company).
Calling Yu’s talents “hard to find,” Clinc CEO Dr. Jason Mars praises the former Hyperion, Oracle, and Adobe executive’s “tremendous knowledge, extensive experience and track record of transforming organisations”.
Yu comes to Clinc most recently from Marketo, where she served as group vice-president. While at the marketing software firm, Yu led the enterprise business from 5% of Marketo’s ARR (annual recurring revenue) to 50% within three and half years before the company was acquired by Vista Equity Partners in an all-cash, $1.79 billion deal.
An Athena pioneer, the founder and CEO of the Tigon Advisory Corporation, as well as an advisor for Jebbit and the C-Suite Accelerator programme, Yu studied at Cornell University and has a MBA from Loyola University in Chicago.
In November, the company announced that its technology was live in six countries, including Turkey, where the nation’s largest private bank signed a deal to deploy Clinc’s platform.
Also last fall/autumn, Clinc announced a partnership with Enacomm to bring its AI chatbot technology to smaller, community banks and credit unions. 2017 also featured a deal with USAA and the closing of a $6 million Series A round led by Drive Capital that took the company’s total capital to $7.75 million.