Dynamic Yield, a personalization platform for e-commerce brands and publishers, has raised $31 million in Series C funding, bringing their funding total to $45 million. New investors La Maison and Deutsche Telekom Capital Partners joined existing investors in this round.
“It was a heavily oversubscribed round for us, so we’re lucky,” CEO Liad Agmon said. “One reason we added Deutsche Telekom in Germany is a strong market for us and it opens a lot of new opportunities through their network to expand our product and fast-growing offices in Berlin and Singapore.”
About Dynamic Yield
Dynamic Yield is a marketing tech company that personalizes customer interactions across online channels, mobile, and email. Companies can choose to tailor their marketing based on the customers' data they have, organizing it into a single database that includes geographic data, demographic data, browsing history, and past purchases.
Dynamic Yield works with many large companies including Sephora, Under Armor, and Urban Outfitters and claims to personalize interactions with over 600 million users every month.
“The way we look at machine learning is for each individual user,” Agmon said “We have an increasingly large set of data based on first- and third-party data, CRM and purchase history, and the ability to crunch all these data points and rank their importance to craft an experience in real time. This is where machine learning comes into play.”
The technology that Dynamic Yield uses is guided by machine-learning algorithms which optimize marketing campaigns with content that is predicted to be more relevant, including product recommendations. The company has confirmed plans to recruit new talent in New York, Tel Aviv, Berlin, and Singapore, as well as to invest in artificial intelligence and machine learning.
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The new funding will be used to help the company expand its offices globally and hire on thirty new people in marketing, sales, and data engineering roles at all of its locations globally.