Israeli mobile data analytics and personalization platform Pixoneye has raised £2.4 million ($3.1 million) in series A funding. ZenInvest, represented by Wharton Asset Management, led the investment in Pixoneye, and Collider, an accelerator dedicated to marketing and advertising startups, and global telecommunications giant, Telefonica, also participated in the round following previous pre-seed and seed round funding contributions in April and August 2015.This latest financing round brings the total capital raised by Pixoneye to just under £3 million to date.
Founded by CEO Ofri Ben Porat and CTO Nadav Tal-Israel, the company has offices in Ramat Gan and London. Pixoneye's platform transforms the accuracy in the way brands reach customers.
The new investment will be used by Pixoneye to change the way that mobile data is aggregated and analyzed, eliminating the need to transfer it into the cloud for processing. In this way, the company will guarantee greater consumer data privacy and security, as well as helping businesses save resources by making data analysis more efficient. The money will also be used for the growth of Pixoneye’s London team, with four senior commercial hires planned in the coming months.
The success of this funding round marks the latest achievement in what has been a fruitful 18 months for Pixoneye. In June 2015, the company reached the final of Unilever’s Next Big Thing awards; in September 2015, the company was singled out as part of the top 1% of Israeli startups by Microsoft Ventures and in February 2016, it won first place in mobile marketing at Mobile World Congress.
Ben Porat said, “Over the past 18 months the response we’ve had from our customers, investors and from the wider industry demonstrates how unique our offering is. Our solutions are all about tailoring user experience to each person rather than basing it on old fashioned clichés. It’s time businesses treated consumers like individuals - and we can help them do that. The next few months will be a period of continuing change and momentum for us - what we have planned next is truly extraordinary.”
“Pixoneye’s technology is the revolutionary next chapter in consumer profiling; it empowers not only companies to better serve their clients but also consumers to get more of what they want and less of what they don’t,” said Gaby Salem, Wharton. “We have not seen any other solution that comes close to Pixoneye; its accuracy and simplicity as well as the level of consumer understanding it offers makes it a universal solution which can be utilised across all industries. Most importantly, it respects users’ privacy thanks to the technology’s unique algorithm which allows the creation of customer profiles without giving away their identities.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 30, 2016
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