What is the true value of a customer to a business? This question has long perplexed companies. To find an answer, sales and customer service teams often rely on spreadsheets and manual data processing, but these methods can be sluggish and prone to mistakes, creating inconsistencies in their reporting.
This very challenge inspired two entrepreneurs, Ido Wiesenberg and Eran Friendinger, to create a technology-driven solution to determine a customer’s lifetime value. Named Voyantis, their tool evolved into a full-fledged business that provides resources for client identification, acquisition, and retention.
“Voyantis was born from our belief that changing global economic conditions were prompting companies to shift from aggressive growth tactics to more sustainable and responsible growth approaches,” Wiesenberg shared with TechCrunch during a recent interview.
Before establishing Voyantis, Wiesenberg founded Tvinci, a “personalized TV” company that was acquired by Kaltura in 2014. Friendinger, on the other hand, previously launched Adience, a platform that provided marketers with insights into their mobile customer demographics, which was bought by the Teddy Sagi group in 2013.
Voyantis leverages AI to analyze vast amounts of data to forecast a customer’s potential lifetime value and buying behaviors. These predictions can then be integrated into advertising campaigns and utilized within marketing automation systems.
Additionally, Voyantis offers tailored recommendations and “targeted actions” to guide businesses in critical customer-related decisions, such as determining optimal timings for upselling opportunities. Wiesenberg emphasizes that the aim is to assist decision-makers in planning and executing effective next steps.
In order to safeguard user privacy, Voyantis ensures that it only keeps anonymous usage data, according to Wiesenberg.
“For executives in IT, our platform provides actionable insights that enhance strategic decision-making concerning customer acquisition, retention, and overall growth,” Wiesenberg elaborated. “The scalability and data security features of our platform assure enterprises that they can depend on Voyantis to reach their long-term growth targets without compromising data integrity or compliance.”
Voyantis faces competition from companies such as DataScience, Pecan, Ocurate, and Black Crow AI; however, Wiesenberg asserts that the startup is experiencing robust growth. He reported that Voyantis, which serves clients such as the loan provider MoneyLion, has tripled its annual recurring revenue for two consecutive years.
To facilitate future growth, Voyantis has secured $41 million in a funding round led by Intel Capital, with contributions from Square Peg, Target Global, Jibe, Redseed, Alicorn, and Icon. This funding brings the total amount raised to $60 million, which will be allocated towards product research and development as well as expanding Voyantis’ roughly 70-member team based in Tel Aviv, according to Wiesenberg.
“The timing of this funding aligns perfectly with the increasing need for efficient growth solutions amid an evolving economic environment, making it an opportune moment to amplify our operations,” Wiesenberg remarked. “We are particularly focused on commercial enterprises across diverse sectors, including fintech, mobile applications, direct-to-consumer markets, and product-led growth, which represent the demographics of our ideal customers.”
Compiled by Techarena.au.
Fanpage: TechArena.au
Watch more about AI – Artificial Intelligence
