Photo Credit: Intellimize
AI-based website personalization company Intellimize has achieved several milestones including an $8 million round of funding and 1,338% revenue growth since 2017.
Intellimize, an AI-based website personalization company, recently announced a number of milestones. For example, the company saw 1,338% revenue growth since 2017 and it has appointed a new VP of sales. Plus it signed on noteworthy customers like SoFi, Looker, and Drift. In terms of customer success rates, Intellimize has seen 577% more conversions at 25 times the speed of traditional A/B testing. And the company just announced it raised $8 million in Series A funding led by Amplify Ventures. Seed investors Homebrew, Precursor Ventures, and several angels also reinvested in Intellimize’s Series A round.
What does Intellimize do? It uses machine learning to personalize mobile and desktop web experiences to drive better sales and conversions for its partners. And its AI delivered positive results in 88% of the campaigns — which is four times more than the sub-20 percent that is seen for typical A/B tests (eMarketer).
Founded by Chief Architect Brian Webb, CEO Guy Yalif, and CTO Jin Lim, Intellimize saw its first revenue in three months of launching in 2016. Yalif said that the company’s ability to drive significant financial benefits and insights for customers has been the key to the company’s growth and for attracting new investment. And Yalif pointed out that in the last year, marketers spent $100 billion in paid media (Reuters) to drive traffic to websites, but 98% of those visitors left without becoming customers (Inc).
“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,” explained Yalif in a statement. “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.”
“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,” noted Jen Grant — the CMO of Looker and an Intellimize customer.
With this round of funding, Intellimize is going to accelerate the development of its AI and expand the team across all functions. And the company also announced it has named David Singh as Vice President of Sales. Singh previously led the sales teams at People.ai, Lattice, Salesforce, and Demandforce.
“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,” stated Amplify Partners Mike Dauber — who is joining the board at the company.
