voyantis, a startup developing tools to estimate a customer’s lifetime value, emerged today from stealth with $19 million in seed funding from Target Global, Square Peg, Schusterman Family Investments, Kaedan Capital and Operator Partners. CEO Ido Wiesenberg tells TechCrunch the money will be used to expand Voyantis’ product offerings 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 claims Weisenberg. “Traditional methods made it difficult to analyze and use business data to make informed time-sensitive decisions and trigger growth,” he told TechCrunch in an email. “Today, all businesses are transitioning to profitability, so understanding and acting on the future value of each user is critical.”
Wiesenberg previously co-launched the over-the-top tech provider Tvinci and Frido Communication, a digital marketing boutique. Friendinger was one of the founders of Adience, a platform for publishers that used AI to profile smartphone users.
Wiesenberg does not claim that Voyantis can predict the future. But he says that by applying machine learning algorithms to thousands of data points, the platform 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 signals into ad networks and marketing automation platforms such as Google, Facebook, Klaviyo, Braze and Hubspot.
“We are building a continuous ‘flush of models’ to predict lifetime value at different maturity levels throughout the customer’s lifetime for a variety of business use cases,” explains Wiesenberg. “That enables continued business use of the predictive power of modeling. We [also] build an AI ‘orchestration algorithm’ that decides when to trigger a prediction. All this taking into account the business reward or cost of forecasting early enough versus the greater confidence you get the longer you wait. This meta-algorithm provides the secret sauce and connects the business impact to the ‘dry’ math formula for machine learning.”
To protect the privacy of customers, according to Wiesenberg, Voyantis only stores anonymous usage data.
†[Using Voyantis,] C-level executives can set predictable long-term goals and measure them within the quarter,” said Wiesenberg. “The VP and director levels can define the goal of their individual team as a derivative. [And the] operational teams can activate machine learning-based workflows that optimize for those same KPIs.”
Can AI accurately predict a customer’s lifetime value? Numerous startups besides Voyantis suggest it can be done, including: DataScience and Ocurate† A Voyantis rival, Carrion Crow AIadvertises a product that can ostensibly figure out which products ecommerce customers are most likely to buy.
While there’s reason to be skeptical, Wiesenberg points to Voyantis’ expansion as proof that his claims are well founded. The company with more than 50 employees generates ‘seven figures’ in annual sales (Wiesenberg didn’t want to get more specific) and counts brands like Notion among its customers.
“In the midst of the current downturn, the current trend is a mindset shift – going back to basics. This can be seen in the way growth leaders are making sure their unit economies are working and their companies have charted a path to profitability,” said Wiesenberg. “This creates a great opportunity for Voyantis, as our mission is to help customers focus on the right users, thereby increasing their efficiency – improving the unit economy. Given the overall trend, it’s no surprise.” that this was by far our best quarter yet.”