Evolv AI – the maker of a leading intelligent digital experience optimization and personalization platform – recently announced the closing and conversion of their previously issued convertible notes and a new equity round for $13.3 million in new funding. Horizons Ventures led the funding round, bringing their total funding to $23.3 million.
New and existing investors like Horizons Ventures, NJF Capital, Engage VC, and Major Group Asia participated in the round. Kerry Liu from Horizons Ventures will join Evolv AI’s board of directors, and Kathryn Murphy, SVP of product and design at Twilio, has joined the company as an advisor.
Evolv AI is the first AI-led experience optimization platform that recommends, builds, deploys, and optimizes customer experiences that impact customer behavior and drive business outcomes. And brands like Verizon, Lululemon, and DirectTV have partnered with Evolv AI to support their AI initiatives. On average, they see six- to nine-figure revenue growth annually.
All of the generative AI features launched this summer are now available for Evolv AI customers who value experimentation and testing as integral to building exceptional digital experiences and seek to capitalize on the massive opportunity that AI provides.
KEY QUOTES:
“This new investment will allow Evolv AI to grow its go-to-market capabilities, reach more customers, and accelerate the development of the company’s groundbreaking AI platform. This news comes after Evolv AI added market-leading generative AI capabilities to its product, allowing customers to use the power of AI all within one platform.”
— Michael Scharff, co-founder of Evolv AI
“Evolv AI reduces the cost and risk of running ill-performing A/B testing by instead offering a solution that continually refines our digital experiences with real-time insights. The results have been incredible. Not only has Evolv AI’s unique testing capabilities enabled us to experiment at a scale and scope that was previously unimaginable, but we’re also seeing steady incremental growth and elevating customer satisfaction to new heights.”
— Jason Vickers, director of technology and product management at Tea Collection
“By leveraging Evolv AI’s Continuous Optimization technology, we’ve achieved remarkable outcomes across our streaming service. We’ve run roughly 1,500 experiments with Evolv AI, which has yielded millions of dollars in incremental growth. It’s truly a testament to the power of data-driven experimentation in the digital realm.”
— Andre Silva, CTO at Curiosity Stream
“Including generative AI in our product offerings empowers teams to automate the design thinking process and create a fully automated experimentation process. By prioritizing user needs, embracing innovation, and iteratively improving the customer experience, businesses can create online platforms that genuinely resonate with their audience and drive sustainable growth.”
— Tyler Foster, president and chief technology officer of Evolv AI
