Understanding Customer Value and Voyantis’ Role
The Importance of Customer Value
One of the most crucial questions for any business is, "How much is a customer worth?" Knowing the lifetime value of a customer can significantly influence a company’s growth strategies and revenue potential. However, calculating this value is often difficult. Traditionally, companies have relied on spreadsheets and manual data analysis methods. Unfortunately, these approaches are typically slow and can lead to errors, resulting in inaccurate reports and insights.
The Birth of Voyantis
Recognizing this challenge, two entrepreneurs, Ido Wiesenberg and Eran Friendinger, decided to create a tech-driven solution. They founded Voyantis, a platform designed to help companies determine and understand customer lifetime value more accurately and efficiently. Voyantis assists businesses in identifying, acquiring, and retaining clients by providing them with data-driven insights.
Wiesenberg shared that the inception of Voyantis was inspired by the realization that global economic changes were pushing companies to move away from aggressive growth strategies. Instead, there is a growing need for more sustainable and responsible growth practices.
Founders with Experience
Before founding Voyantis, Ido Wiesenberg had experience in the tech industry with his previous venture, Tvinci, a personalized television platform that was acquired by Kaltura in 2014. On the other hand, Eran Friendinger had previously founded Adience, a mobile marketing insights platform that was acquired by Teddy Sagi’s group in 2013. Their varied backgrounds equipped them with the experience needed to tackle the complex problem of customer value.
How Voyantis Works
Voyantis leverages artificial intelligence (AI) to analyze a multitude of data points to forecast a customer’s potential future value. By applying these predictions to advertising campaigns, businesses can better tailor their marketing strategies. For example, the insights generated by Voyantis can help companies determine the best times to offer upsells, ensuring they maximize opportunities with existing customers.
Key Features of Voyantis
- AI-Driven Predictions: The platform uses advanced AI algorithms to predict customer behavior and lifetime value.
- Actionable Recommendations: Voyantis provides businesses with specific recommendations that inform customer interaction strategies.
- Data Privacy: To prioritize user privacy, Voyantis only collects anonymous data.
Target Audience and Business Benefits
Voyantis aims to serve various market segments, including:
- Fintech companies
- Mobile application developers
- Direct-to-consumer brands
- Product-led growth companies
By focusing on these industries, Voyantis helps clients make data-backed decisions regarding customer acquisition and retention, which are essential for sustainable growth.
Wiesenberg emphasized that the platform is particularly beneficial for IT department managers at large enterprises. It provides actionable insights that guide strategic planning related to both customer acquisition and retention. Furthermore, Voyantis ensures data security and compliance, making it a reliable partner for companies looking to achieve long-term growth objectives.
Competitive Landscape
In the marketplace, Voyantis faces competition from other data analysis firms like DataScience, Pecan, Ocurate, and Black Crow AI. However, Voyantis has demonstrated impressive growth, reportedly tripling its annual recurring revenue for two consecutive years. Notably, they have garnered significant clients, including MoneyLion, a loan provider.
Funding and Future Expansion
To support its expanding operations, Voyantis has successfully secured $41 million in a recent funding round led by Intel Capital. Other participating investors include Square Peg, Target Global, Jibe, Redseed, Alicorn, and Icon. This funding brings Voyantis’ total capital raised to $60 million, which will be channeled towards product development and the growth of its team based in Tel Aviv.
Wiesenberg commented that the timing of this funding was perfect, considering the increased demand for efficient growth solutions in today’s changing economic environment. Voyantis is keen on navigating this landscape to better serve its clients.
Conclusion
In summary, understanding a customer’s lifetime value is essential for companies aiming for sustainable growth. Voyantis stands out as an innovative solution that combines AI technology with sound business strategies to provide actionable insights. With a strong foundation rooted in its founders’ previous experiences and significant financial backing, Voyantis is positioned to become a leader in customer value analytics.
As businesses face the challenge of adapting to a new economic landscape, solutions like Voyantis are more critical than ever for making informed decisions that foster growth and efficiency.
