Voyantis, a startup developing tools to measure customer lifetime value, emerged from stealth today with $19 million in seed funding from Target Global, Square Peg, Schusterman Family Investments, Kaedan Capital and Operator Partners. CEO Ido Wiesenberg tells TechCrunch that the funds will be used to expand Voyantis’ product offering and support more use cases in the future.
Wiesenberg and Eran Friendinger founded Voyantis in 2020, motivated by the idea that many companies today base their growth and marketing decisions on spreadsheets—or so Weisenberg claims. “Traditional methods made it difficult to both analyze and use company-owned data to make informed, time-sensitive decisions and enable growth,” he told TechCrunch in an email. “These days, as all companies make the shift to take the path to profitability, it’s critical to understand and act on the future value of each consumer.”
Wiesenberg previously co-launched high-tech provider Tvinci and Frido Communication, a digital marketing boutique. Friendinger was one of the founding members of Adience, a platform for publishers that use AI to profile smartphone users.
Wiesenberg does not claim that Voyantis can predict the future. But he says the platform, by applying machine learning algorithms to thousands of data points, can project a user’s future propensity and lifetime value shortly after acquisition and throughout their journey. When applied to ad campaigns, he says, these predictions can be used by marketing teams to make campaign decisions or fed as alerts to ad networks and marketing automation platforms like Google, Facebook, Klaviyo, Braze and Hubspot .
“We are building a continuous ‘wave of models’ to predict lifetime value at different maturity levels in the customer’s lifetime for a myriad of business use cases,” explained Wiesenberg. “This enables continuous business utility of the predictive power of modeling. We [also] build an AI “orchestration algorithm” that decides when to activate a prediction. That’s all considering the business reward or cost of predicting early enough versus the increased confidence you get from waiting longer. This meta-algorithm is what creates the secret sauce, connecting business impact with the ‘dry’ mathematical formulation of machine learning.”
To protect customer privacy, Voyantis only stores anonymous usage data, according to Wiesenberg.
“[Using Voyantis,] C-level executives can set predictable long-term goals and measure them within the quarter,” Wisenberg said. “Vice president and director levels can define their team’s individual goal as a derivative. [And the] operations teams can enable workflows fueled by machine learning that optimize towards these same KPIs.”
Can AI accurately predict customer lifetime value? Many startups, according to Voyantis, suggest it can, including DataScience and Okurat. A rival of Voyantis, Black Crow AIadvertises a product that can seemingly understand which products e-commerce customers are most likely to buy.
While there’s reason to be skeptical, Wiesenberg points to Voyantis’ expansion as evidence that he has faith in its claims. The 50-plus-employee company generates “seven-figure” annual revenue (Wiesenberg declined to be more specific than that) and counts brands like Notion among its clients.
“Against the backdrop of the current downturn, the current trend is a change in mindset – a return to basics. This is seen in how growth leaders make sure their unit economics are working and that their companies have an established path to profitability,” Wisenberg said. “This creates an incredible opportunity for Voyantis, as our mission is to help customers focus on the right users, thereby increasing their efficiency – improving unit economics. Given the overall trend, it’s no surprise that this is our best quarter to date.”