AgilOne Secures $10M Funding, Intros Predictive Tool
AgilOne has secured a $10 million Series B investment round led by Mayfield Fund, with participation from Sequoia Capital. The company said Wednesday it will use the funding to strengthen its sales, marketing, and engineering departments. The Series A round led by Sequoia Capital in 2011 brings the total investment to $16 million.
The Mountain View, Calif. cloud-based predictive marketing intelligence firm has worked to support Bosch, ideeli, Moosejaw, PetCareRx, and Shazam reduce customer turnover and increase marketing effectiveness.
Managing and integrating data from multiple sources and retaining data quality remain the biggest challenges. Along with the funding, AgilOne has released its flagship platform. The collection of predictive marketing tools based on an intelligent platform provides insight into customer data across all channels, from the Web and social sites to mobile and in-store purchase. The platform processes the data and recommends the actions that marketers should take.
AgilOne CEO Omer Artun, a Ph.D. in computational neuroscience and physics, said he started the company based on his own experience as a "frustrated marketer." He said digital marketing technology lacks the complete view of customers, their behavior, and the ability to predict interests.
One feature of the product aims to help marketers understand different interests by grouping consumers into cluster or audience segments that behavior similarly. It helps marketers understand that these clusters represent different personas that might change as their interests change. "We've seen click and engagement rates rise 100%, as marketers better understand the process," Artun said.
For one catalog marketer, an understanding of online behavior, email engagement, and purchase behavior can help to recommend who and when should get a catalog. AgilOne managed to reduce about 20 to 25% of their marketing spend, Artun explains, pointing to the platform's calculation and predictive engine.