NEW YORK, Nov. 22, 2013 /PRNewswire/ -- OnDeck (www.ondeck.com), the technology-powered Main Street lender, announced today that the company has added Krishna Venkatraman to its leadership team in the newly created position of Senior Vice President of Data and Analytics. The amount of traditional and social data available today continues to increase and Venkatraman is responsible for ensuring that OnDeck harnesses this information to further accelerate the company's small business lending impact.
Venkatraman's role will focus on OnDeck's use of data and analytics to fundamentally improve the U.S. business lending system. He will lead a cutting edge analytics team, create and develop OnDeck's analytics roadmap, and define strategy for acquiring new data sources that can further automate and improve OnDeck's lending process and credit models. Venkatraman will report directly to James Hobson, the company's Chief Operating Officer.
"Creating an SVP of Data and Analytics role marks a key milestone for OnDeck," said Hobson. "Krishna's two decades of experience in using data science to develop business solutions is an invaluable asset for us. His unique skill set will help advance our mission to make the borrowing process fast and easy for small business owners, so they can get the capital they need, when they need it."
Venkatraman comes to OnDeck with 20 years of experience in creating business innovations through the design of advanced algorithms. He joins the team from Calmsea, Inc, where he was the Chief Scientist responsible for analytics and data strategy. Prior to that, Venkatraman was the Director and Chief Architect for Advanced Data and Analytics at Intuit Inc., where he managed the development of analytics for the company's data driven offerings. Previously, he was the Distinguished Technologist at HP Laboratories where he co-developed an analytical model to identify and quantify the company's exposure to catastrophic risk. He was also part of a team that invented and developed an analytics driven software solution to manage HP's product portfolio, resulting in cost savings of over $500 million. As one of the first employees of Demantec, Venkatraman was also a part of the first SaaS large-scale analytical offerings that helped transform pricing and promotion optimization in the retail and consumer packaged goods industries.
He holds a master's degree in Operations Research from the University of Texas at Austin and a PhD in Industrial Engineering from Stanford University.
OnDeck is the leading technology platform that harnesses big data and readily available digital information to determine the creditworthiness of small businesses based on their business financials. The company is making the lending process fast and easy for small business owners to immediately obtain the critical growth capital they need. To date, OnDeck has delivered over $700 million to tens of thousands of businesses across 700 different industries.
About OnDeck Launched in 2007, OnDeck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the OnDeck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
OnDeck has deployed over $700 million in capital to tens of thousands of businesses across 700 different industries. The company is growing at greater than 100 percent annually, and was recently named to Forbes' 100 Most Promising Companies in America list and the Inc. 500/5000 for a second year in a row. The company also has earned an A+ rating with the Better Business Bureau. OnDeck is financed by some of the nation's leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures and Institutional Venture Partners.