How much is a customer worth to a company? That’s the eternal question. To arrive at an answer, customer and sales teams are often forced to use spreadsheets and other manual data analysis methods. The problem is, these methods tend to be slow and error-prone, leading to gaps in reporting processes.
The challenge spurred two founders, Ido Wiesenberg and Eran Friendinger, to build a tech-based solution for figuring out a customer’s lifetime value. Called Voyantis, their solution, which eventually morphed into a business, offers tools to help identify, acquire, and retain clients.
“Voyantis was driven by our vision that evolving global economic fundamentals were steering companies away from growth-at-all-costs strategies toward more efficient and fiscally responsible growth practices,” Wiesenberg told TechCrunch in an interview.
Prior to founding Voyantis, Wiesenberg started a “personalized TV” company called Tvinci that was bought by software firm Kaltura in 2014. Friendinger previously launched Adience, a platform that gave marketers insights into their mobile customer segments. (Adience was acquired by the Teddy Sagi group in 2013.)
Voyantis applies AI to thousands of data points to try to predict a customer’s future propensity and lifetime value. When applied to ad campaigns, these predictions can be fed as signals into ad networks and marketing automation platforms.
Voyantis also generates recommendations and “targeted actions” to inform customer-related decisions (e.g. when to offer a customer an upsell). The goal, according to Wiesenberg, is to help decision-makers with next steps and execution timing.
To protect customers’ privacy, Voyantis only stores anonymous usage data, Wiesenberg said.
“For C-suite managers in the IT department, our platform delivers actionable prescriptions that enhance […] strategic decision-making related to customer acquisition, retention, and overall growth,” Wiesenberg continued. “Our platform’s scalability and robust data security features ensure that enterprises can rely on Voyantis to support their long-term growth objectives without compromising on data integrity or compliance.”
Voyantis competes with firms including DataScience, Pecan, Ocurate, and Black Crow AI, but Wiesenberg claimed that the startup is growing at a healthy rate. He said that Voyantis, which counts loan provider MoneyLion as a customer, has tripled its annual recurring revenue for two consecutive years.
To support future expansion efforts, Voyantis has raised $41 million in a funding round led by Intel Capital with participation from Square Peg, Target Global, Jibe, Redseed, Alicorn, and Icon. Bringing the company’s total raised to $60 million, the new cash will be put toward product R&D and growing Voyantis’ roughly-70-person Tel Aviv-based team, Wiesenberg said.
“The timing of this raise aligns with the increasing demand for efficient growth solutions in a shifting economic landscape, making it the ideal moment to scale our operations,” Wiesenberg said. “Our primary focus is on commercial enterprises across various industries such as fintech, mobile apps, direct-to-consumer, and product-led growth, and these are the markets where we are finding our ideal customer profile.”
