Voyantis, a startup developing tools to estimate customer lifetime value, today raised $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 funding will be used to expand Voyantis’ product offering and support more use cases in the future.
Wiesenberg and Eran Friendinger founded Voyantis in 2020, motivated by the belief that many of today’s companies’ growth and marketing decisions are based on spreadsheets — or so Weisenberg claims. “Traditional approaches make it difficult to analyze and leverage the data a company has to make informed time-sensitive decisions and activate growth,” he told TechCrunch in an email. “Today, with all companies moving toward profitability, , understanding the future value of each user and taking action is critical.”
Wiesenberg previously co-launched top technology provider Tvinci and digital marketing boutique Frido Communication. Friendinger is a founding member of Adience, a platform for publishers to analyze smartphone users using artificial intelligence.
Wiesenberg doesn’t think Voyantis can predict the future. But he said that by applying machine learning algorithms to thousands of data points, the platform can predict a user’s future propensity and lifetime value shortly after acquisition and throughout the journey. When applied to ad campaigns, marketing teams can use these predictions to make campaign decisions, or as signals into ad networks and marketing automation platforms such as Google, Facebook, Klaviyo, Braze and Hubspot, he said.
“We built a continuous ‘family of models’ to predict lifetime value at different maturity levels across the customer lifecycle to address a myriad of business use cases,” explained Wiesenberg. “This allows for an ongoing effort to model the predictive power of the model. Commercial utility.We [also] Build an AI “orchestration algorithm” to decide when to activate predictions. This all takes into account the commercial return, or the cost of predicting early enough, rather than the longer you wait the more confident you are. This meta-algorithm creates the recipe for linking business impact to ‘dry’ machine learning math. “
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 quarterly,” Wiesenberg said. “The VP and executive levels can set goals for their respective teams as derivatives. [And the] Operations teams can activate machine learning-powered workflows to optimize these same KPIs. “
Can AI accurately predict customer lifetime value?In addition to Voyantis, many startups have shown it can, including data science and Ocurate. A Voyantis competitor, Black Crow AIAdvertise a product that ostensibly identifies which products e-commerce customers are most likely to buy.
While there are reasons to be skeptical, Wiesenberg points to Vojantis’ expansion as credible evidence for his claims. The company, which employs more than 50 people, generates “seven figures” in annual revenue (Wiisenberg declined to give more specific figures) and counts brands like Notion among its clients.
“In the current downturn, the current trend is a mindset shift – back to basics. This is seen in the way growth leaders ensure their unit economics work and their companies have a path to profitability,” Wiesenberg said. “This creates a fantastic opportunity for Voyantis as our mission is to help our customers focus on the right users, thereby increasing their efficiency – improving unit economics. Given the general trend, this is by far our best one The quarter is not surprising.”