Israeli machine learning startup Dynamic Yield has raised $22 million in Series C financing round led by Vertex and ClalTech, with participation from Baidu and Global Founders Capital. Existing investors Bessemer Venture Partners, Marker LLP and Innovation Endeavors also participated. The funds will be used to fuel further global growth of Dynamic Yield’s personalization technology across the world.
Dynamic Yield’s advanced machine learning engine builds actionable customer segments in real time, enabling marketers to increase revenue via personalization, recommendations, automatic optimization & 1:1 messaging.
Dynamic Yield, founded in 2012 by CEO Liad Agmon and CTO Omri Mendellevich has offices in Tel Aviv, New York and Berlin. The company has raised $37 million to date, including the latest financing.
Dynamic Yield's platform is being used by product and marketing teams to create machine-learning based personalized experiences that are synchronized across all digital channels including web, mobile web, apps and email. The company has personalized the experiences of more than 500 million people, and it continues to expand its global footprint by serving industry leaders in eCommerce, Media & Publishing, Gaming, Travel, B2B and other verticals.
Agmon said, “Personalization is all about communication and relevancy. As a consumer, I react much better to marketing communication that addresses who I am, my current interest and my current state of mind. We are finally at a stage where machine learning and AI allow product and marketing teams to build such experiences that are uniquely relevant to an individual, and we are super excited to lead the pack with the technology and solutions we built around it. 50% of our company is in Product, Engineering & Data Science and we are committed to continuous innovation in the space”
“By mastering personalization at scale, Dynamic Yield has created a new field,” said Vertex Ventures General Partner Aviad Ariel. “Having built a strong engineering team and a world-class product, Dynamic Yield is poised to take full advantage of a great market opportunity, and we’re very pleased to be able to back them.”
Claltech CEO Daniel Shinar said, "Enterprise marketers today are clamoring for a powerful solution to help them deliver the right customer experience to all their users. Dynamic Yield is re-writing the rules in the marketplace by offering a unified solution that enables marketers to individualize digital experiences across any device”.
As part of the financing, Ariel and Shinar will join Dynamic Yield's board of directors.
“Today, web, mobile and email customization are must-have tools in a marketer’s arsenal,” said Alex Cheng, VP and General Manager of Baidu USA. “While traffic acquisition is critical, customers interact with brands across multiple interfaces as they research before they buy. Hence, ROI becomes increasingly dependent on seamless, comprehensive web and mobile customer experiences. We were deeply impressed by the technology Dynamic Yield has built and believe that any advertiser will benefit from leveraging its platform.”
Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2016
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