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AgilOne Secures $10 Million Series B Investment From Mayfield and Sequoia
Company Offers "A Data Scientist in the Cloud" to Deliver Predictive Intelligence to Marketers
By: Marketwired .
Nov. 28, 2012 11:00 AM
MOUNTAIN VIEW, CA -- (Marketwire) -- 11/28/12 -- AgilOne, the cloud-based predictive marketing intelligence company, today announced the closing of a $10 million Series B investment round led by Mayfield Fund, with participation from Sequoia Capital. The company will use the financing to invest in sales, marketing, and engineering growth. AgilOne originally partnered with Sequoia Capital when it raised its Series A round in 2011. This Series B round brings AgilOne's funding to a total of $16 million to date.
According to Forrester Research, Inc., 51% of companies say improving customer retention is one of their top goals -- but more than half say managing and integrating data from multiple sources and ensuring data quality represent the biggest blockers(1). These are the kinds of problems marketers solve with AgilOne. Companies can increase retention, get a complete view of their customer across-channels, and predict how customers will respond to specific offers. The AgilOne platform allows these problems to be solved by capturing multi-channel data and improving data quality. In short, AgilOne makes the data clean and smart.
AgilOne has already helped dozens of companies such as Bosch, ideeli, Moosejaw, PetCareRx, and Shazam reduce customer churn and increase marketing effectiveness.
"AgilOne's software adds percentage points to customer margins and growth in an instant," said Bryan Schreier, partner, Sequoia Capital and AgilOne board member. "The business impact is tremendous and their turnkey approach makes world-leading marketing optimization technology broadly available for the first time."
"Marketing is becoming a data-driven discipline. We believe AgilOne will be dominant in the predictive marketing intelligence segment," said Rajeev Batra, Mayfield Fund partner and AgilOne board member. "AgilOne's world-class team has combined its deep domain expertise with proven technology and a laser-focused commitment to customer success."
In conjunction with its funding announcement, AgilOne also announced its flagship product that harnesses big data to provide deep insight into current and future customer behavior. (See "AgilOne Launches Cloud-Based Predictive Intelligence for Marketers.") AgilOne's predictive intelligence is based on a data-scientist approach to marketing. Its unique technology allows marketers to not only understand their customers better based on the massive volumes of data they collect, but to predict what customers will do next based on their behavior.
"I started AgilOne based on my own experience as a frustrated marketer," said Omer Artun, CEO of AgilOne. "Marketers are buried under growing mountains of data. It's difficult to figure out how to increase marketing effectiveness on your own -- you need complex math in the background to help. AgilOne is like your data scientist in the cloud. It gives marketers a complete view of all customers and their behavior, and predicts what those customers might be interested in next. Having Sequoia and Mayfield backing us gives us the support to grow the business even faster."
(1):"The State Of Customer Analytics 2012," Forrester Research, August 8, 2012
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