Enigma Technologies

Enigma Technologies is a data science company that specializes in providing comprehensive intelligence on the financial health and identity of over 30 million small and medium-sized businesses (SMBs) across the US. The company's proprietary machine learning algorithms combine data from hundreds of public and private sources to offer a holistic view of the revenues, growth, and detailed firmographic information of SMBs.

Enigma's core offering is its advanced data analytics and risk modeling solutions for financial institutions. By leveraging Enigma's data insights, lenders can make more informed decisions when extending credit to SMBs, a segment that has traditionally faced challenges in securing financing due to the lack of reliable data on their business health. Enigma's solutions empower community and regional banks to efficiently originate, monitor, and securitize small business loans, ultimately lowering the cost of capital for SMBs.

In January 2022, Enigma spun off a new lending platform called Prime to further broaden access to its data analytics capabilities. Prime provides a dashboard that allows banks to upload their loan books and access advanced indicators like Enigma's data on business revenue and growth, enabling them to make risk and lending decisions more efficiently and confidently. Prime launched with a funding commitment of USD 49 million from partners including Capital One, Third Point Ventures, Customers Bank, and NEA.