The Irish AI startup is one of six companies worldwide to be accepted into the program.
Dublin, Ireland – 26 June 2017 – RecommenderX (www.recommenderx.com) has proudly joined the Mastercard Start Path program, the company’s global effort to support later-stage fintech and tech startups who are shaping the future of commerce.
During the six-month virtual mentorship program, RecommenderX will work with Mastercard Start Path on a tailored plan that will deliver tangible value and help the company grow. In addition, Mastercard Start Path will connect RecommenderX to its network of experts, partners and customers representing leading banks and retailers in all regions of the globe.
RecommenderX will be joining the ranks of successful program alumni such as Revolut, PayKey, and Kasisto, who have collectively raised over $33m within the last year.
“Working with RecommenderX enables Mastercard to discover new ways to use artificial intelligence to drive business value,” said Amy Neale, vice president, Mastercard Start Path. “By providing RecommenderX the resources it needs to grow, we can design the personalized commerce experiences that customers will increasingly demand.”
Dr Kevin McCarthy, Co-Founder & CTO of RecommenderX, commented:
“RecommenderX has experienced significant growth since formation in April 2016, achieving profitability in the first year. We see this as a really exciting period of growth in the Financial Services industry as it transforms to a digital AI-enabled world, where the RecommenderX personalised recommendations ensure that every customer experience is unique. Today RecommenderX employs a team of 30 engineers, software developers, data scientists, UX/UI designers and business analysts. The Start Path program will expand our partnership with Mastercard, opening the door to a number of new opportunities.”
RecommenderX is an A.I. company, specialising in developing cutting-edge data analytics and recommender systems solutions for the enterprise market. We leverage our Recommendation as a Service (RaaS) cloud platform to convert data into actionable insights, measurably improving business value. We also develop data and visualisation applications for companies that are looking to digitally transform their currently manual processes.
RecommenderX was founded in April 2016 by Dr Kevin McCarthy, Mark O’Donovan and John Phelan. Dr Kevin McCarthy, holds a PhD from University College Dublin, and has over 10 years of research experience in the areas of Personalization Technologies and Recommender Systems with over 50 publications, +1700 citations and several patents.
Mark O’Donovan has successfully founded and sold three technology companies, and raised over €400m for Irish technology firms.
John Phelan has extensive experience in growing businesses, founded a number of companies, and is the National Director of Halo Business Angels Network (over €75m invested) and a member of DublinBICs’ €53m AIB Seed Capital Fund.
About Mastercard Start Path
Mastercard Start Path is a global effort to support innovative startups developing the next generation of commerce solutions today. Start Path was launched in 2014 with an objective to help startups to grow their businesses faster than they could by themselves. Startups that join the program can benefit from the knowledge of a global network of Mastercard experts, access to Mastercard customers and partners, and the ability to innovate on top of Mastercard solutions. Mastercard customers that join the program as partners get connected to the best and brightest startups and gain access to innovations from across the globe.
For more information visit www.startpath.com or follow Mastercard Start Path on Twitter at @MAstartpath.