Center City digital behavior intelligence company ForMotiv announced a round of fundraising this month, touting increased customer demand and intent to hire.

The five-year-old B2B startup’s artificial intelligence and machine learning platform promises to help companies in financial services and insurance spaces identify risky behavior. Its $1 million round came from existing investors and DreamIt Ventures, and will be used primarily to hire more employees to keep up with 2020’s quick growth. ForMotiv previously raised $650,000 in 2018.

“We weren’t exactly looking to raise money, but with the digital transformation accelerating due to COVID, the demand for new data sources, particularly behavioral data, has exploded,” said Bill Conners, president of ForMotiv, in a statement. “In 2021, we will analyze hundreds of millions of digital applications, which consist of anywhere from one to 55+ screens so the amount of data we’re collecting and analyzing at this point is significant.”

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