Dynamic Yield Scoops $32 Million in Series D Funding to Head into First Personalization-Anywhere Space
Dynamic Yield Recently Named Leader by Gartner 2018 Magic Quadrant for Personalization Engines
Dynamic Yield, the AI-powered omnichannel personalization engine, today announced it raised $32 Million in Series D funding led by Viola Growth, with participation from Union Tech Ventures. The funding will enable Dynamic Yield to power individualized experiences beyond web — across kiosks, call centers, POS systems, IoT devices and more as the company sets its sight on becoming the industry’s first personalization anywhere platform. This round brings the company’s total funding to $77 million.
Recently, in its research entitled Predicts 2018: Brand Relevance Under Fire, Automation on the Rise, Gartner estimates that “by 2018, organizations that have fully invested in all types of online personalization will outsell companies that have not by more than 30%.” And in its first ever 2018 Magic Quadrant report on Personalization Engines, Gartner evaluated 18 solution providers in the market, where it positioned Dynamic Yield the highest and furthest for its ability to execute and completeness of vision in the Leaders’ quadrant.
At the time of this funding announcement, Liad Agmon, CEO and Co-Founder of Dynamic Yield, said, “At a time when Amazon Go stores already let shoppers check-out with their smartphones and nearly all airlines have switched to self-service check-in kiosks, it’s hard to imagine a future where almost every customer interaction isn’t personalized.”
Liad added, “The truth is, these technologies of the ‘future’ aren’t as far from ubiquity as we may think, and that’s why becoming a core component in experience delivery for brands is the vision for Dynamic Yield as we continue to build a platform that meets the demands of an increasingly connected world.
The latest investment will help to accelerate product innovation in the form of a comprehensive set of personalization APIs, enabling businesses to personalize every digital channel and customer touchpoint at scale. In addition, the round will fuel the expansion of an already vast partner network, doubling down on integrations similar to that of Salesforce Commerce and Marketing Clouds which allows mutual clients to sync and personalize all points along the customer journey.
Natalie Refuah, Partner at Viola Growth, said, “Capitalizing on the global digitization trend, e-commerce growth, and personalization as a must-have capability, Dynamic Yield brings a unique, end-to-end personalization platform. With its differentiated capabilities, it has succeeded in acquiring hundreds of global customers, including many of which are top-tier brands.”
Natalie added, “This funding, together with the company’s great technology, skilled entrepreneurs and one of the best management teams we have seen, will allow it to maintain its leadership position in the personalization market, to tap into other verticals, and to continue developing its state-of-the-art technology.”
Dynamic Yield’s unique personalization technology combines machine learning and predictive algorithms to build customer segments, enabling marketers to increase revenue via personalization, recommendations, automatic optimization & 1:1 messaging across all digital channels including email, web and mobile apps. The platform customizes experiences for more than 600 million users each month for its 200+ brands such as HelloFresh.
“At HelloFresh, experimentation is at the core of everything we do and Dynamic Yield has enabled us to truly optimize online customer journeys,” said Eleanna Smpokou, Senior Product Performance Manager at HelloFresh.
Eleanna added, “Whether we’re meeting a user for the first time or engaging with loyal subscribers, Dynamic Yield provides us with the tools we need to deliver the freshest possible experiences.”
Currently, Dynamic Yield’s AI-powered omnichannel personalization engine helps marketers increase revenue by automatically personalizing each customer interaction across the web, mobile web, mobile apps and email. The company’s advanced customer segmentation engine uses machine learning to build actionable customer segments in real time, enabling marketers to take instant action via personalization, recommendations, automatic optimization & real-time messaging – in a single platform.
Dynamic Yield personalizes the experiences of more than 600 million users globally and counts industry leaders like IKEA, URBN Brands, Ocado, and Stitch Fix among its many customers. Based in New York, the company has more than 180 employees in six offices worldwide.