How much is a customer worth to the company? That’s the eternal question. To reach the answer, customer and sales teams are often forced to use spreadsheets and other manual data analysis methods. The problem is that these methods tend to be slow, error prone, leading to gaps in the reporting process.
This challenge was spurred by two founders, Ido Wiesenberg and Eran Friending, building a technology-based solution to understand the lifetime value of their customers. Called their solution, their ultimately transformed into business, Voyantis, offers tools to help identify, acquire and retain clients.
“Boyantis was driven by our vision that the foundation of an evolving global economy is to move companies away from growth strategies to more efficient and financially responsible growth practices,” Wiesen said. Berg spoke to TechCrunch in an interview.
Before establishing Voyantis, Wiesenberg founded a “personalized television” company called TVinci, purchased by software company Kaltura in 2014. (Adience was acquired by Teddy Sagi Group in 2013.)
Voyantis attempts to apply AI to thousands of data points to predict future trends and lifetime value for customers. Once applied to advertising campaigns, these predictions can be provided as signals to advertising networks and marketing automation platforms.
Voyantis also generates recommendations and “target actions” to inform customer-related decisions (for example, when to provide upsells to customers). According to Wiesenberg, the goal is to help decision makers with the next step and when to take place.
To protect the privacy of customers, Voyantis simply stores anonymous usage data, Wiesenberg said.
“For C-Suite Managers in IT, our platform provides practical prescriptions that enhance strategic decisions related to customer acquisition, retention and overall growth,” Wiesenberg continued. . “The scalability and robust data security capabilities of our platform allow businesses to rely on Voyantis to support their long-term growth goals without compromising data integrity or compliance.”
Voyantis competes with companies like Datascience, Pecan, Ocurate and Black Crow AI, but Wiesenberg claimed that the startups are growing at a healthy rate. He said Voyantis, which counts loan provider Moneylion as a client, has tripled its annual repetitive revenue for the second consecutive year.
To support future expansion efforts, Voyantis raised $41 million in a funding round led by Intel Capital, with participation from Square Peg, Target Global, Jibe, Redseed, Alicorn and Icon. Wiesenberg said the company’s total has increased to $60 million, with the new cash being directed towards a Tel Aviv-based team of around 70 people from Product R&D and Voyantis.
“The timing of this pay raise is consistent with the growing demand for efficient growth solutions in a changing economic landscape, making it an ideal moment to expand your business,” Wiesenberg said. “Our main focus is on commercial companies across a variety of industries, including fintech, mobile apps, direct consumers, and product-driven growth. These are markets that are finding the ideal customer profile.”
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