AI Personalization Platform Dynamic Yield Raises $32 Million in ‘Series D’ Round
Dynamic Yield, which describes itself as an “AI-powered omnichannel personalization engine,” said it raised $32 million in “Series D” funding led by Viola Growth, and with Union Tech Ventures also partnering on the deal.
The company said the round of funding help the company “power individualized experiences beyond web — across kiosks, call centers, POS systems, IoT devices and more as the company sets its sight on becoming the industry’s first personalization anywhere platform.”
This latest round of funding brings the total funding of the company to $77 million.
The infusion of money at Dynamic Yield comes as retailers and brands make investments in technologies aimed at increasing their capabilities in providing more personalized experiences in stores and online. Specifically, companies are using artificial intelligence and machine learning technologies to make use of consumer data with the goal of creating a more customized and personalized shopping experience. The latest platforms, such as what Dynamic Yield specializes in, involves deploying automation engines.
Liad Agmon, chief executive officer and cofounder of Dynamic Yield, said that at a time “when Amazon Go stores already let shoppers check-out with their smartphones and nearly all airlines have switched to self-service check-in kiosks, it’s hard to imagine a future where almost every customer interaction isn’t personalized.”
Agmon, added, “The truth is, these technologies of the ‘future’ aren’t as far from ubiquity as we may think, and that’s why becoming a core component in experience delivery for brands is the vision for Dynamic Yield as we continue to build a platform that meets the demands of an increasingly connected world.”
Dynamic Yield said this round of funding will help the company to “accelerate product innovation in the form of a comprehensive set of personalization APIs, enabling businesses to personalize every digital channel and customer touchpoint at scale.” The company also noted that this latest round of funding “will fuel the expansion of an already vast partner network, doubling down on integrations similar to that of Salesforce Commerce and Marketing Clouds, which allows mutual clients to sync and personalize all points along the customer journey.”
Current clients of Dynamic Yield, which is based in New York, include HelloFresh, Ikea, Stitch Fix and Ocado, among many others.
Natalie Refuah, a partner at Viola Growth, described personalization as “a must-have capability” and that Dynamic Yield is offering the market “a unique, end-to-end personalization platform.”
“With its differentiated capabilities, it has succeeded in acquiring hundreds of global customers, including many of which are top-tier brands,” Refuah said. “This funding, together with the company’s great technology, skilled entrepreneurs and one of the best management teams we have seen, will allow it to maintain its leadership position in the personalization market, to tap into other verticals and to continue developing its state-of-the-art technology.”
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