Optimove is an Israeli startup that offers a Customer Service Management (CRM) marketing service. The firm has just acquired the British real-time, cloud-based personalization platform services provider Graphyte for an undisclosed sum, but Calcalist reports that it was for $40 Million.
The acquisition comes right after Optimove also bought Kumulos, a provider of a personalized messaging platform for mobile applications, for an estimated $10 million.
Just last September Optimove brought in $75 million in cash investment, led by global growth investor Summit Partners.
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The news comes as the worldwide financial crisis has caused a number of Israeli firms to change or even cancel their IPO plans. And several Startup Nation unicorns – companies worth more than $1 billion – like Next Insurance and Lightricks are making layoffs.
Graphyte provides a real-time, cloud-based personalization platform for customer relationship programs and campaigns. The company boasts that its platform delivers improved conversion rates, click-through rates, and revenue uplift by leveraging personalized recommendations across channels. For example, Gala Bingo has driven a 35% turnover uplift using Graphyte’s web personalization models and seen a 300% increase in site visits when providing intelligent recommendations in emails instead of traditional static emails.
Founded in Tel Aviv in 2012, Optimove explains that its Software as a Service (SaaS) technology combines a Customer Data Platform (CDP) with a Multichannel Marketing Hub (MMH) to “uniquely empower brands to personalize campaigns and communicate to existing customers.” The software’s AI element, declares the company, enable it to scale this personalization to serve each customer with the optimal message and promotion, across websites, email, Facebook, Google Ads, text messages, push notifications, and other channels.
According to Gartner’s Market Share Analysis: Customer Experience and Relationship Management Software Worldwide, the multichannel marketing market reached $10 billion and is growing at a 17% Compound Annual Growth Rate CAGR.
Optimove said that the acquisitions will help to bolster the company’s comprehensive CRM marketing platforms.
Pini Yakuel, CEO and Founder of Optimove, said, “With the addition of Graphyte, marketers can transform their customer data into personalized customer-led journeys at scale. Our platform seamlessly delivers real-time symmetric messaging across any channel and touchpoint. The Graphyte acquisition was a natural next step in our evolution. It is part of Optimove’s relentless journey of empowering marketers to optimize customer data into deeper relationships, incremental sales, and loyalty at scale. The winner in these acquisitions is our clients and their customers.”