Earnix raises $7m in second financing round

Earnix develops advanced optimization software for pricing financing services. JVP led the round, joined by Formula Ventures.

Israeli start-up Earnix announced that it had raised $7 million in its second financing round. Jerusalem Venture Partners led the round, joined by Formula Ventures, which led Earnix’s first round.

Earnix was founded by CTO Sammy Krikler and chairman Yoni Cheifetz, who founded Demantra, and is now a partner in Star Ventures. Earlier investors in Earnix include Direct-IDI Insurance Company Ltd. (TASE: IDI) and private investors. Earnix has eight employees.

Earnix develops software for pricing financing services. The company designs advanced price optimization programs for financial service companies, including insurance companies, banks, and credit companies. Earnix’s products make it possible to analyze, optimize, and integrate important business processes, such as pricing, marketing, sales, and services. The company’s solutions combine a large number of interrelated optimization problems into a single integrated process, which provide an essential control tool for business optimization.

Published by Globes [online] - www.globes.co.il - on September 14, 2005

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