Behavioral data and intelligence tech company Jornaya, based in Conshohocken, is set to be acquired by Jersey City-based Verisk, leadership announced Tuesday.
The Philly company specializes in data and market intelligence — similar to Verisk’s specialization in data analytics for insurance, energy, specialized markets and financial services.
The acquisition will allow Verisk clients to time and tailor customer interactions based on in-market behaviors, the companies said, and ensure engagement with customers and prospects at the right time with a relevant message.
“Jornaya brings unique insights to consumer buying journeys and the ability to meet the evolving needs of CMOs and marketing teams,” said Doug Caccese, Verisk’s president of ISO personal lines, in a release. “Combined with our extensive data assets and deep domain expertise in predictive analytics and decision-support solutions, this acquisition will enhance our ability to develop innovations to help our clients refine their marketing outreach, boost customer acquisition and retention, and increase profitable growth.”
Jornaya was previously known as LeadiD back in 2016, when a name change came along with a $10 million Series B. In 2017, the company moved its offices from Ambler to one twice the size in Conshohocken.
CEO and founder Ross Shanken told Technical.ly at the time that the move was a response to Jornaya’s rapid pace of growth and desire to attract talent: “With this move, we are looking forward to increasing our visibility and establishing close connections with various organizations: companies, colleges, tech organizations and nonprofits in our local community.”
A spokesperson told Technical.ly that no changes are expected for Jornaya’s office, and all employees are expected to become Verisk employees once the deal is finalized. Financial details of the deal were not disclosed.
“Verisk has shown a strong commitment to meeting the rapidly changing needs of leading marketers with data-driven solutions, highly experienced teams, and a significant innovation pipeline,” the CEO said in a statement. “As part of the Verisk family, we’ll be able to increase our reach, improve our solutions, and help our clients grow with greater speed and efficiency by driving better customer engagement, acquisition and retention.”
15+ business development resources for Black and Latinx entrepreneurs in Philly
Philly life science orgs see leadership changes, strong funding to kick off 2021
LeRoy Jones exited a company. Now, he’s using his biz experience to help new entrepreneurs thrive
Phenom made its second acquisition this year: Amsterdam-based Endouble
Sign-up for daily news updates from Technical.ly Philadelphia