Verisk Acquires Identity Resolution & Consumer Intelligence Leader Infutor
Verisk (Nasdaq: VRSK) has announced the acquisition of Infutor, a leader in identity resolution and consumer intelligence data. This strategic move enhances Verisk's marketing solutions, particularly within the insurance sector. By integrating Infutor with Jornaya, acquired in 2020, the new entity, Verisk Marketing Solutions, aims to provide comprehensive data-driven strategies while prioritizing consumer privacy. Demand for Infutor's services is growing as companies navigate a future without third-party cookies, emphasizing the importance of first-party data enrichment in today's marketing landscape.
- Acquisition of Infutor enhances Verisk's marketing offerings, targeting the insurance industry.
- Growing demand for identity resolution services supports potential revenue growth.
- Combining Infutor and Jornaya creates a holistic solution for effective data-driven marketing strategies.
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Infutor will combine with Verisk’s Jornaya to create Verisk Marketing Solutions
JERSEY CITY, N.J., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics provider, announced today it has acquired Infutor, a leading provider of identity resolution and consumer intelligence data. The acquisition further enhances Verisk’s marketing solutions offerings to companies across several industries including the insurance industry. Verisk plans to integrate Infutor with Jornaya, which it acquired in 2020, to form Verisk Marketing Solutions.
Infutor provides real-time identity resolution and consumer intelligence to marketers and the platforms and data companies that build products to serve marketers. Demand for Infutor’s services has spiked as the MarTech and AdTech communities prepare for a future without third-party cookies. Marketers have also increased their focus on enriching their first-party data as their new strategy, all while managing risk and protecting consumer privacy in an increasingly complex and evolving privacy landscape.
The focus on first-party data enrichment with heightened privacy and security compliance is especially prevalent in the insurance and financial services industries, where data-driven, personalized marketing plays a critical role in customer acquisition and retention. In December of 2020, Verisk acquired Jornaya to expand its marketing solutions offerings to help clients, such as insurance carriers, improve relevancy and compliance of consumer engagements using in-market behaviors and consent-based data solutions.
“Verisk’s data analytics leadership, focus on privacy and marketing solutions assets make this the right strategic home for Infutor,” said Gary Walter, CEO of Infutor. “We not only have highly complementary data assets but we also have complementary company cultures that will drive innovation to bring even more value to our customers.”
With the combination of Infutor and Jornaya, Verisk Marketing Solutions can deliver unique and differentiated value to its customers. Infutor’s identity resolution and consumer intelligence solutions deliver the foundational data layer for understanding the person behind every marketing interaction. Combining this with Jornaya’s unique insight into in-market behaviors and implementing the highest standards in the industry for data security and privacy positions Verisk Marketing Solutions as a key data partner.
“We are committed to continually increasing the value we deliver to our customers. Bringing Infutor and Jornaya together immediately offers CMOs and marketers a holistic solution for modern, effective and responsible data-driven strategies and programs,” said Matt Lohman, managing director of Verisk Marketing Solutions. “Most importantly, this integration represents a huge opportunity for growth and investment in our greatest asset – our people. The combined talent of our teams will be a major differentiator that will drive innovation and growth within our markets for years to come.”
Norwest Venture Partners acquired Infutor in 2016 to advance product innovation and drive growth investments and market expansion. In 2021, for the sixth year Inc. magazine named Infutor to its Inc. 5000, a ranking of the nation’s fastest-growing private companies-- recognizing a
Jefferies acted as the exclusive financial advisor and Goodwin Procter LLP served as the legal advisor to Infutor in connection with the transaction. McCarter & English, LLP was the legal advisor to Verisk.
About Infutor
Infutor is the expert in data-driven consumer identity management and identity resolution. The company is solely focused on enabling brands to instantly gain access to the most complete and accurate information about consumers, exactly when they need it, to make informed marketing and risk mitigation decisions. Infutor is regularly named to the Inc. 5000 list and recognized by Crain’s Chicago and Built In Chicago as a Best Place to Work. A privately held company founded in 2003 with strategic investments from Norwest Venture Partners, Infutor is headquartered in Oakbrook Terrace, Ill. For more information, visit http://www.infutor.com.
About Jornaya
Jornaya has proprietary behavioral data in markets where consumers make considered purchases, including the insurance and lending industries. Jornaya’s data and insights help companies and their marketing teams improve consumer engagements and drive profitable growth through a deeper understanding of their customers and prospects and their buying journeys. Leading companies use Jornaya’s data to help retain current customers, grow relationships with existing customers, and establish new relationships. For more information, visit www.jornaya.com
About Verisk
Verisk (Nasdaq: VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company's advanced technologies to manage risks, make better decisions and improve operating efficiency. The company's analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
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