Companies enter joint venture to accelerate development of psychometrics API
ALAMEDA, CALIFORNIA, UNITED STATES, August 22, 2023/EINPresswire.com/ — Sophonaut, a digital wellness startup focused on behavior and personality psychology, today announced a partnership with YOUNITY, an impact startup that creates financially self-sufficient communities. Together, the companies seek to alleviate financial stress and support mental well-being at a time when American’s stress over money is at its highest level, according to an October 2022 study by the American Psychological Association.
“Sophonaut is focused on four core tenets that make up our lives: health, wealth, love and happiness; and we believe financial wellness is an important aspect of leading a well-balanced life,” said Peter DePaulo, Co-Founder at Sophonaut. “We’ve seen first-hand how financial stress from an uncertain economy has shaped people’s behaviors and vice versa, how certain behaviors can have an impact on one’s personal finances. We believe partnering with YOUNITY will help people improve their financial habits through advice that is tailored specifically to them, leveraging sophisticated AI-technology and behavior insights.”
As part of the partnership, Sophonaut will provide its psychometrics API to accelerate development of YOUNITY’s REVO AI-supported personal finance mapping solution which provides hyper personalized financial advice for people looking to reach specific goals such as buying a home or creating a future college fund. YOUNITY will also provide $2 million in funding towards a joint venture to fully integrate Sophonaut’s psychometrics API and behavioral data, enhancing REVO’s ability to deliver customized personal finance advice based on customers’ behavior profiles.
The funds provided by YOUNITY will be used directly for engineering and design of Sophonaut’s core API by the end of winter, as well as additional engineering and R&D to fully scale and integrate the solution into YOUNITY’s REVO by early 2024. This business model will be released and proofed in the U.S. first with plans to expand globally.
“Financial well-being is not a one-size fits all approach and we know everyone has different personal financial goals,” said Uzrad Lew, Founder and CEO of YOUNITY. “Integrating Sophonaut’s psychometric and behavior technology allows us to truly understand a person’s financial needs and personal habits that can contribute to their success. As a result, we can tailor our AI-powered financial advice for the best possible outcome.”
Sophonaut’s core product, Beyond You, is a patent-pending behavior model that uses AI to provide patients, therapists and coaches with accurate insights on a person’s behaviors and personality traits. This behavior model, and the API developed through this venture, will be leveraged in an all-in-one super-app for self care, released by Sophonaut in the near future. This upcoming product will meld seamlessly and compliment the mission of YOUNITY, in the ultimate shared goal of delivering wellness and success to all who seek it.
Sophonaut is focused on creating sustainable positive change in the world through individual behavior with its proprietary solution, Beyond You. Using an AI-powered assessment that can accurately predict behavior based on the core facets of personality psychology, the results give people guidance on how to accomplish their goals and improve their health, wealth, love and happiness.
With $2 million in funding raised from KiwiTech and an additional $10 million on its way, YOUNITY’s vision is to empower America’s middle class with financial advisory services, financial education, and an inspiring brick-and-mortar workspace wired by REVO, a state-of-the-art AI-driven data and support platform helping people with personal finance decisions. YOUNITY is all about creating financially self-sufficient communities and is focused on revolutionizing the way America’s Middle Class behaves financially.