Pyze Announces $4.6 Million Funding Round for AI Based Analytics & Campaigns
Pyze Announces $4.6 Million Funding Round for AI Based Analytics & Campaigns
Pyze, today, announced a $ 4.6M funding round to scale its business. Pyze has developed the unique ability to embed business services like cross-platform user behavior analytics, AI-based user segmentation, and marketing automation as native extensions to any Digital Platform.
The round was led by Illuminate Ventures with participation from Benhamou Global Ventures and Correlation Ventures. Cindy Padnos, founder and managing partner at Illuminate, will join the Pyze Board.
The Pyze solution is unique because it combines both cross platform analytics with omni-channel marketing campaigns to enable any Business to both understand its users and effectively engage with those users. Given most business applications already span web and mobile with more fragmentation expected for service delivery, Pyze is positioned for strong growth. Pyze has an innovative distribution model that enables any Business Platform to embed their capabilities and offer them to their customers.
The foundation of the Pyze solution is built on leveraging Machine Learning to enable user segmentation and AI to determine the best channel, platform, and time to run marketing campaigns. Pyze can enable goal based user journeys across organic and paid media channels to maximize ROI. Strong AI fundamentals give Pyze a significant edge in a market is struggling to deal with growing scale and complexity.
“We’re seeing growing demand from App platforms, Marketplaces, and Multi-brand enterprises to utilize Pyze to understand cross-platform user behavior and deploy the tools needed to engage each user effectively,” said Prabhjot Singh, Co-Founder & CEO of Pyze. “The number of screens around us is only going to increase and marketers must engage users where they spend their time, not think about email campaigns, paid media campaigns or push messaging campaigns”.
“The ability to offer sophisticated analytics and automated marketing capabilities to our customers is a huge win for MobileSoft,” said Jason Soto, Vice President and General Manager of MobileSoft. “Our clients love using the platform, specifically the integrated usage analytics and automated campaign execution, giving us the ability to offer our customers the growth marketing tools they need to compete effectively.”
Pyze has been recognized as an industry thought leader by numerous independent analysts. Pyze has been featured in Gartner’s Market Guide for Web & Mobile App Analytics and Gartner’s Magic Quadrant for Mobile Marketing Platforms. The company also recently announced a partnership with MobileSoft, the market leader in no-code mobile consumer app development, to provide behavior analytics and marketing to over 50,000 companies across their 300,000 apps.
“It’s not often that a company has the combination of both a unique product and an innovative go to market strategy,” said Cindy Padnos – founder and Managing Partner of Illuminate Ventures. “We’re delighted to have the opportunity to work with the Pyze team to support their vision to embed best in class analytics and marketing automation into virtually any Platform. As business services span multiple devices and as marketing campaigns become channel agnostic, the capabilities offered by Pyze will become an imperative for leading digital platforms and enterprises.”
Pyze has inked partnerships with a number of Web and Mobile app platforms that position it to achieve scale. The company is planning to use the new funding to build out new product features around predictive campaigns and also focus on marketing / sales efforts to expand its reach.
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