Israeli AI-based SaaS consumer research company Wizer has announced closing a $4 million Series A financing round . The funding was led by SOMV (State of Mind Ventures), a venture capital fund focusing on technology infrastructure with the participation of Nielsen Innovate, the early stage investment arm of Nielsen. To date, the company, headquartered in Caesarea, has raised $5.5 million, including $1.5 million in seed funding from YJ2, an investment fund backed by the Yahoo Japan Corporation, Nielsen Innovate, Barinboim Group, and the Israel Chief Scientist.
Wizer provides marketers and agencies with comprehensive end-to-end market research solutions for brand positioning, product and concept testing, advertising effectiveness measurement, and more, utilizing proprietary artificial intelligence technology to deliver insightful client-ready research, quickly and affordably.
Wizer uses advanced artificial intelligence (AI) and machine learning technology to provide turnkey research, which is tailored to each client. The platform learns each customer’s business challenges, insight preferences, and industry-related content to design the questionnaire. When analyzing results, the platform leverages algorithms to highlight the most important insights and findings, similar to a human analyst, delivering a comprehensive research report to the client within days and even hours.
Wizer was founded in 2014 by CEO Alon Ravid, chief business officer Idan Geva, and scientific director Mano Geva. The Wizer team has over 20 years of marketing research experience and the company's clients include leading global consumer goods brands such as Wilson, SodaStream and Tiny Love.
Ravid said, “After successfully working with several leading organizations on market-driven decisions, we’re ready to significantly scale up our growth and expand our vision to enable more marketing research professionals to take a more strategic role in the organization, while letting technology take care of laborious research tasks. We are building the decision support tool of the future: No more dispersed information from various sources—rather, a consolidated single source of data and insights. Wizer delivers timely insights so businesses of all sizes can compete as equals.”
SOMV managing partner Pinhas Buchris said “We believe the market of consumer research and analytics is a massive market, ready for modernization and improvement. Wizer's team was able to bring together several relevant disciplines, including AI and polling, to create a new offering, reduce cost, and improve performance. Initial market traction is strong and encouraging and we are eager to embark on our joint journey.”
Nielsen Innovate CEO Dov Yarkoni said, “We identified Wizer’s huge potential to disrupt the consumer insights market right from the start. We think that the combination of their technology, highly talented individuals and research know-how is the recipe for success.”