Insider Closes $2.2M Series A in Predictive Modelling
Insider, one of the global leaders in predictive modelling and digital customer experience, announced that it has secured a $2.2 million Series A round of financing, bringing Insider’s total funding since launching in 2012 to 3.3 million. The round was attended by Wamda Capital, 212 and Dogan Group’s Oncu GSYO venture capital firms.
Being a multi-channel customer experience delivery platform, they recently made an entry into the global scene with a single powerful mission: To simplify the lives of marketers with next-gen predictive modelling technologies helping them leverage “actionable data” and drive conversions with advanced segmentation and auto-optimization.
The company already enables global brands such as Aramex, Air Arabia, Trolley, The First Group, AWOK.com, Tajawal, Virgin, Toyota, MasterCard, Ticketmaster, GNC, AVIS, Lenovo, McDonalds and CNN across various industries including retail, media, finance travel and e-gaming.
In the Series A round, attended by Wamda Capital, 212 and Dogan Group’s Oncu GSYO venture capital firms, Insider closed $2.2M in funding.
Relying on data-scientists and analytics tools to make sense of big data and turn insights into meaningful optimization rules is an excruciatingly manual process for marketers.
Therefore, Insider is heavily investing in auto-optimization technologies as a part of its predictive suite to help marketers manage complex funnels without depending on rule-based marketing and guesswork.
This is how it works: A visitor’s likelihood to purchase (L2P) an item in the next 7 days is calculated by a machine learning algorithm. A new L2P score is calculated on a daily basis for each visitor based on their on-site actions in the past 30 days.
Marketers can then target a visitor segment with a high L2P score to deliver personalized campaigns using web push notifications, 1:1 messages, product recommendations and more.
Auto-optimization comes into play when the algorithm identifies your visitors’ “next preferred channel” to deliver personalized campaigns in real time and automatically takes action to re-engage your audiences if they remain passive.
“Unlike other customer experience delivery solutions in our space, L2P scoring enables marketers to act on high-value segments and optimize marketing spend rather than just focusing on profit maximization. Our clients using L2P segmentation observed conversion rates which are up to 17 times higher compared to the average conversion rate on their sites.” Cilingir said.
Today’s marketer, being able to accurately predict each visitor’s future behavior and auto-segment audiences based on predictive variables such as likelihood to purchase, customer interest and demographics can target high-performing groups to deliver hyper-relevant personalizations, while increasing conversion rates by over three-fold, using Insider’s platform.
Using predictive micro-segments marketers can design value-based marketing campaigns to attract, engage and retain customers.Building deeper relationships by targeting the right visitors at the right time with unique personalizations, at every stage of the customer life cycle, Insider’s predictive suite helps convert one-time buyers into repeat customers and identify churning customers.
Insider is also investing in mobile-first thinking in product development and working on adapting mobile personalization experiences to the Web, retiring the “web-first” and “mobile-responsive” thinking, switching the rules of the game.
Insider’s platform is powered by an international engineering team, dispersed over Singapore, Russia and Istanbul and continues to spread it presence across continents.
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