Voyantis emerges from stealth to predict customer lifetime value – TechCrunch
Voyantis, a startup developing tools to estimate a customer’s lifetime value, emerged today stealthily with $19 million in seed funding from Target Global, Square Peg, Schusterman Family Investments, Kaedan Capital and Operator Partners . CEO Ido Wiesenberg told TechCrunch that the funds will be used to expand Voyantis’ product offerings and support more use cases in the future.
Wiesenberg and Eran Friendinger founded Voyantis in 2020, motivated by the idea that many companies today base their growth and marketing decisions on spreadsheets — or so Weisenberg claims. “Traditional methods made it difficult to both analyze and use company-owned data to make informed, time-sensitive decisions and enable growth,” he told TechCrunch in an email. “Nowadays, as all businesses turn the corner to get on the road to profitability, it’s crucial to understand and act on the future value of every user.”
Wiesenberg previously co-launched over-the-top technology provider Tvinci and Frido Communication, a digital marketing boutique. Friendinger was a founding member of Adience, a platform for publishers that used AI to profile smartphone users.
Wiesenberg does not postulate that Voyantis can predict the future. But he says the platform, by applying machine learning algorithms to thousands of data points, can project a user’s future propensity and lifetime value soon after acquisition and throughout. of his journey. When applied to advertising campaigns, he says, these predictions can be used by marketing teams to make campaign decisions, or fed as signals into ad networks and marketing automation platforms such as Google. , Facebook, Klaviyo, Braze and Hubspot.
“We build a continuous ‘model burst’ to predict lifetime value at different maturity levels in the customer’s lifetime for a myriad of business use cases,” Wiesenberg explained. “This enables continued commercial utility of the predictive power of modeling. We [also] build an AI “orchestration algorithm” that decides when to activate a prediction. All of this considering the trade reward or cost of forecasting early enough versus the increased confidence you get the longer you expect. This meta-algorithm is what creates the secret sauce, linking business impact to the “dry” mathematical formulation of machine learning. »
To protect customer privacy, Voyantis only stores anonymous usage data, according to Wiesenberg.
“[Using Voyantis,] C-level executives can set predictable long-term goals and measure them over the quarter,” Wiesenberg said. “Vice President and Director levels can set their individual team goal as a derivative. [And the] operations teams can enable machine learning-powered workflows that optimize those same KPIs. »
Can AI accurately predict customer lifetime value? Many startups other than Voyantis suggest it’s possible, including DataScience and Ocurate. Voyantis competitor Black Crow AI is announcing a product that can apparently determine which products e-commerce customers are most likely to buy.
Although there are reasons to be skeptical, Wiesenberg points to the expansion of Voyantis as proof that his claims are credible. The 50-plus-employee company generates “seven figures” in annual revenue (Wiesenberg declined to elaborate) and counts brands like Notion among its customers.
“In the midst of the current downturn, the current trend is for a mindset shift – back to basics. It shows in how growth leaders ensure their unit economy works. and that their businesses have established a path to profitability,” Wiesenberg said. “This creates an incredible opportunity for Voyantis, as our mission is to help customers focus on the right users, thereby increasing their efficiency – thus improving the economy of the unit. Given the overall trend, it’s no surprise that this was by far our best quarter yet.”