Press: Intellimize shakes up web personalization with $8M Series A, helping businesses save 25 years of A/B testing each
- AI based website personalization company announces new growth stats, including 1,338% revenue growth since 2017, the appointment of a new VP of Sales, and new customers including SoFi, Looker, and Drift.
- Releases latest customer success stats, delivering 577% more conversions at 25x the speed of traditional A/B testing.
- Secures $8M Series A lead by Amplify Ventures and follow on participation from Seed investors Homebrew, Precursor Ventures, and more.
SAN FRANCISCO, CA, APRIL 23, 2019: Intellimize, an AI based website personalization company, has today announced a string of company updates including an $8M Series A funding round, new growth figures, and a new VP of Sales.
The company closed the Series A investment with Amplify Partners as the lead investor, following two years of impressive customer success. This round builds on a previously unannounced $2 million Seed round in 2017. Seed investors Homebrew, Precursor Ventures, and several angels reinvested in the Series A, expressing confidence in the company and its growth.
Founded by a trio of machine learning and advertising veterans from Yahoo, Twitter, and BrightRoll in a backyard shed in 2016, the startup generated its first revenue in just three months. Intellimize has grown steadily since, increasing revenue 1,338 percent in the last two years.
Intellimize, which uses machine learning to personalize mobile and desktop web experiences, helped notable companies including SoFi, Looker, Stella & Dot, Drift, Talkdesk, and Huckberry drive improvements in conversion rates and revenue.
Intellimize’s customers experienced an average of 46 percent lift in conversions in 2017 and 20181, 577 percent more than the average lift seen by traditional A/B tests2. The median lift was 15 percent. The company’s AI delivered positive results in 88 percent of campaigns, which is four times more often than the sub-20 percent of typical A/B tests3.
Intellimize co-founder and CEO Guy Yalif, said the company’s ability to drive significant financial benefits and insights for its customers had been key to it growth, and attracting the investment.
“Last year, marketers spent $100B4 in paid media to drive traffic to websites, yet 98 percent of those visitors left without becoming customers5.”
“Traditional website optimization approaches like A/B testing try to solve this problem, but treat everyone the same forever and significantly limit test speed. We addressed these frustrations and more by dynamically personalizing for each unique visitor in real time.
“In doing so, we were able to significantly accelerate our customers’ learning, helping them test 177 different ideas in 2017 and 2018 on average. These ideas would have taken more than 50 years to test using traditional A/B testing, saving them years of time. With Intellimize, these ideas combined to make 78 million possible versions of the average web page, enabling marketers to focus more time on customers and deliver better ROI,” said Yalif.
Jen Grant, CMO of Looker and an Intellimize customer commented on Intellimize’s technology saying, “Intellimize’s machine learning based optimization delivered 5x ROI by driving more prospects to our various content, demo requests, and other web forms which directly correlates to revenue for my company. In addition to this, my web optimization team estimated they had 10x more time to work on other demand generation activities. We completed years of testing in just a few quarters, and then applied those insights across our marketing channels to better engage prospects with more targeted messaging. Intellimize's AI provided my team with leverage and a great financial return while giving my team to focus on what matters most: the customer experience.”
Intellimize will use the funding to accelerate development of its AI and expand the team across all functions. Today, the company has also announced the appointment of David Singh as Vice President of Sales. David previously led sales teams at People.ai, Lattice, Salesforce, and Demandforce. His deep experience scaling B2B SaaS teams and bringing machine learning to go-to-market functions will help accelerate Intellimize’s growth.
Mike Dauber, General Partner at Amplify Partners, who will join Intellimize’s board, said the firm invested in Intellimize because of its stellar founding team and differentiated approach to website optimization.
“The ultimate goal of most business websites is to convert visitors to customers. Intellimize’s utilization of machine learning allows marketers to create better experiences for their visitors, and ultimately drive much higher conversions in a shorter period of time. The Intellimize team are clear leaders in this domain and we are excited to partner with them."
For more information, visit intellimize.com
Intellimize automatically optimizes websites to drive revenue and customer acquisition. The company’s AI dynamically personalizes mobile and desktop websites for each unique visitor in real time.
Intellimize was founded in 2016 by machine learning and advertising veterans from Yahoo, Twitter, and BrightRoll and is headquartered in San Mateo, CA. Intellimize works with successful growth teams at companies such as SoFi, Drift, and Looker. Intellimize is backed by leading early stage investors including Amplify Partners, Homebrew, and Precursor Ventures.
1 Campaigns 90%+ statistical significance and 100+ lifetime conversions were included in this analysis
2 Source for A/B testing lift averages: https://blog.analytics-toolkit.com/2018/analysis-of-115-a-b-tests-average-lift-statistical-power/
3 Source for how often A/B testing delivers an answer, positive or negative: https://www.emarketer.com/content/most-a-b-tests-don-t-produce-significant-results
4 Source for $100B https://www.reuters.com/article/us-advertising-digital/global-spending-on-digital-marketing-nears-100-billion-study-idUSKCN1M30XN
5 Source for conversion rate https://www.inc.com/reshu-rathi/5-mistakes-most-e-commerce-marketers-make-but-you-dont-have-to.html