Venture

Dynamic Yield Raises $32 Million To Personalize Online Shopping

Dynamic Yield, a personalization software startup, announced today that it has raised a $32 million Series D. This round is led by Tel Aviv-based Viola Growth with participation from Israel-based Union Tech Venture.

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Founded in 2011, Dynamic Yield has so far raised a total of $77 million. Among the six disclosed funding rounds, Bessemer Venture participated in three of them. Vertex Ventures co-led the company’s $31 million Series C in 2017. Additionally, several notable corporations have also invested in Dynamic Yield, including The New York Times and the Chinese search engine Baidu.

Dynamic yield pairs ecommerce experiences in an interactive digital shopping setting with a personalized sales assistant. Using the Dynamic Yield technology, companies can automatically engage with customers on their platforms. For example, when a customer browses a clothing website, the individual is prompted with a dialogue box that suggests items or promotions based on the person’s previous activity on the site. Similarly, customers are reminded by email if they have left items in their online shopping carts, or are offered suggestions similar to the items in the cart.

“When we built Dynamic Yield, we built it from the very get-go to be a technology that will be used by product teams and engineering teams to create a better framework for their marketers to be able to launch campaign at scale,” said Dynamic Yield’s CEO Liad Agmon. “Our technology can support very sophisticated use cases in a much more elegant way.”

Dynamic Yield prides itself on its ability to be highly integrated with its clients’ proprietary data, so the clients’ marketing campaigns can be tailored to individual customers.

Agmon also notes that clients in different countries may also adopt different personalization strategies. For example, Agmon told Crunchbase News that, mobile use, specifically for retail, is much more prominent in Asia and South America than in North America and Europe. Cultural nuances also play a role in varied personalization strategies, like messaging and other creative work.

Dynamic Yield aims to become “the industry’s first personalization anywhere platform,” per its press release. According to Agmon, this means that instead of having several siloed interactions with different digital interfaces, customers will have one integrated experience through multiple digital channels.

Currently, Dynamic Yield serves over 200 enterprise and mid-market clients around the globe, and its personalization services mainly operate through online, mobile, and email channels. With the new infusion of capital, the company is planning to expand its personalization solutions to kiosks, call centers, point-of-sale systems, and IoT devices.

iStock Photo / cnythzl