Sixth exit for Edison in 2020; Rising demand for real-time data services to power modern enterprise marketing technology following COVID-19 pandemic
Edison Partners, the leading growth equity firm, today announced the sale of Jornaya to Verisk, a leading data and analytics company.
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Philadelphia-based Jornaya is a leading behavioral data intelligence company that provides insights and analytics to marketers in banking, insurance, mortgage, real estate, higher education and automotive. Jersey City, N.J.-based Verisk is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services industries.
“The use of behavioral data and insights has become critical to drive better business outcomes. Jornaya has a proprietary view of consumer buying journeys. Ryan Ziegler and Edison are an exceptional team that guided us as we transformed our business into a leading data insights platform. We look forward to the next chapter of outstanding growth as we join forces with the industry’s most reputable leader in data analytics with a rich history of serving insurance and financial services,” said Ross Shanken, Founder and CEO, Jornaya.
Ryan and the Edison team partnered with Jornaya Founder and CEO Ross Shanken in 2016 to lead the company’s $10 million growth equity round. Jornaya scaled capital efficiently, has experienced strong top and bottom-line growth, and today works with more than 125 trusted brands and leading companies.
“Ross and his team have built a valuable high-growth data and technology business. This move will further their goal of helping clients time and tailor interactions based on actual in-market behaviors—ensuring engagement with customers and prospects at the right time with a relevant message, in a privacy protected manner,” said Ryan Ziegler, General Partner, Edison Partners, who served on the Jornaya board of directors.
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“Jornaya’s leading intelligent predictive technology focused on enhancing consumer major life decisions gives its customers a unique advantage to improve their buyer experience and strengthen their brands. Ross and the Jornaya team have the unique opportunity to create an insurance and financial services powerhouse able to revolutionize the consumer shopping experience,” said Mehdi Tehranchi, an Edison Director Network member who joined the board in 2017 and is now the lead director. Edison also recruited domain expert Dave Yaffe to the board as an independent director, the Co-founder of Estuary and former COO of LiveRamp, the leading data connectivity platform.
Jornaya marks Edison Partners’ sixth strategic exit in 2020. Earlier this year, the firm announced the successful sales of Clearpool, Motionsoft, Scivantage, and Solovis.
Edison Partners has financed and guided more than 240 private companies, a third of which have been in the enterprise solutions space. Edison’s current enterprise solutions portfolio includes ATS, Bricata, Emplify, ExecVision, Giant Oak, Northpass, observeIQ, Overhaul, PathFactory, Superpedestrian, Suuchi, Terminus, The Pro’s Closet, and TripleLift. Other notable exits in the sector include Archive Systems, Billtrust, Cadient, eSentire, Fishbowl, ItemMaster, Kemp, Logfire, M5, Mathsoft, Motionsoft, NetProspex, Notable Solutions, Operative, Tangoe, Telarix, TetraData, Uptivity, Virtual Edge, Vocus, and VFA.