London-based AI startup DataSine raises $5.3m in funding
DataSine, which combines expertise in psychology and machine learning to help businesses personalise their communications at scale, has raised $5.2 million in Series A funding from leading European and U.S. investors, led by Pentech and Propel Venture Partners.
Other investors include C.Entrepreneurs/Cathay Innovation, Twin Ventures and Sistema_VC.
DataSine’s content personalization platform Pomegranate is a collaborative AI-powered campaign platform that tailors content to personality. Pomegranate helps businesses tailor content to resonate with their audience, from the segment level down to the individual customer.
It applies machine learning to behavioural data that companies already collect to build customer profiles, and provides an AI-powered content editing platform to guide marketers in tailoring a range of content elements, including words and images.
The collaborative product philosophy helps marketers make far more informed decisions. This means they can spend less time on tasks like copy tweaking and A/B testing, and more time on being creative .
By helping marketers personalise everything from emails and landing pages to call centre scripts, DataSine allows the algorithmic tailoring of customer experience to move beyond traditional personalisation and product recommendations.
With over 85% of interactions between businesses and their customers expected to occur online over the next five years, it is crucial for businesses to be able to understand customers contextually, and create more personal digital experience. This funding round recognises DataSine's unique approach to personalisation, based on psychology and AI.
“I launched DataSine after moving to London to do a PhD in Psychology because I believed that personality can help companies understand their customers as a whole, which empowers them to truly connect with customers through every interaction, and move beyond traditional focus of click optimisation," said DataSine founder and CEO Igor Volzhanin.
"By helping businesses build genuine connections, we hope to change the way businesses see their customers.”
“With this round of funding, we are now in a great position to deliver on our mission to empower companies to treat their customers like individuals.”
According to Boston Consulting Group, personalization will push a revenue shift of some $800 billion to the 15% of companies that get it right over the next five years in three sectors alone (retail, health care, and financial services). Technavio analysts forecast the global AI-based personalization market to grow at a CAGR of close to 13% between 2018 and 2022.
DataSine's expertise in psychology and machine learning has been making waves with its existing Enterprise customers across Europe where its tech has helped achieve uplifts of up to 80% in engagement and 71% in sales using the unique approach.