CUneXus, developer of sales and marketing technologies for lenders, raised $1 million in new equity funding from an unnamed strategic partner. Combined with a 2013 seed round, the company’s total funding stands at $1.7 million.
The California-based company plans to use the funding to support a number of initiatives, including a product launch with newly signed partner, Edmunds.com, an online resource for car buyers and sellers.
While the details of the project are still under wraps, CUneXus plans to unveil the new product this spring.
At FinovateSpring 2014, CUneXus debuted cplXpress, a suite of lending-automation tools that offer perpetual, pre-approved loan offers across multiple products. With cplXpress, financial institutions send customers personalized offers via the channel that best fits their preferred communication method.
A recent case study from Harland Clarke cited a credit union that achieved 700%+ ROI during a nine-week campaign using technology powered by cplXpress. The 36,000 members responded at a rate of 2.5%, more than 2x the typical rate, and booked loans at a rate of 2.2%. At the end of the nine-week period, the credit union grew loan balances by $6.2 million.
In October 2015, CUneXus partnered with Digital Insight and will leverage the partnership to resell CUneXus’ cplXpress to its financial institution customers.
CplXpress integrates with a number of financial technologies, including those offered by FIS, Digital Insight, D+H, MeridianLink and more.
CUneXus unveiled new online and mobile interfaces, mobile document delivery, e-signature, and point-of-sale lending capabilities at FinovateSpring 2015 in San Jose. The company is based in Santa Rosa, Calif., and Dave Buerger is CEO.