Malvern’s Savana Raises $2.9 Million, Aims to Capitalize on Growth Prompted by Shift in Strategy
Summary
Malvern-based Savana raised $2.9 million in a recently completed financing round as it is looking to capitalize on the growth prompted by its major strategy shift two years ago, writes Michelle Caffrey for the Philadelphia Business Journal. It supplies banks and other financial service companies with software that helps them increase automation and improve how they manage internal operations and customer engagement. One of its products is a software program used by bank employees for when a customer calls to report a fraudulent charge on their card. “We set on a course to build out a new generation of our software,” said President and CTO Mike Wolfel. The company has already started rolling out its SaaS products to several major banks and has a strong sales pipeline ahead.