Civalue said March 24 it closed a $2.4 million seed round from Nielsen Innovate, Mac Fund, a Korean – Israeli fund, Deutsche Telekom and other investors. Civalue, of Yokneam, Israel, provides customer insight and personalization software for grocery, health and beauty retailers.
Yokneam, Israel, March 24th, 2016 – ciValue today announced the closing of a $2.4 million Seed Round from Nielsen Innovate, Mac Fund, a Korean – Israeli fund, Deutsche Telekom and other investors to support the rollout of the company’s cloud-based, self-service customer analytics and personalization solution for grocery, health and beauty retailers.
Despite the volume and richness of customer data collected by grocery stores and pharmacies from purchases, website behavior and apps, using customer data to enhance customers’ loyalty and engagement remains an elusive target. For most retailers, it means hiring a service-based consulting firm for a long-term project, which may deliver good but limited results on a narrow range of products and/or customers.
To enable grocery, drug stores, and health & beauty retailers to take control of their personalized marketing strategy, ciValue is rolling out a new cloud-based, self-service customer analytics and personalization solution to facilitate engaging directly with customers.
“With ciValue we are taking our personalized marketing efforts to the next level,” said Ms. Hilla Milo, Director of Personal Marketing at Super-Pharm, a leading international drug store chain and one of ciValue’s early customers. “We now have valuable insights at our fingertips, along with the ability to apply them dynamically to personalized campaigns, and a platform for collaboration with our suppliers,” she added.
ciValue applies proprietary predictive algorithms to purchase and behavioral data to rapidly decode what it calls the customer’s “Retail DNA” to provide actionable insights and match personalized offers to each individual customer. “ciValue’s solution helps us achieve and even improve the lift we expect personalization to deliver in customer visit frequency, loyalty, and overall revenue,” concludedHilla.
Esther Barak Landes, CEO of Nielsen Innovate said, “We were the first investors in ciValue because we understood the size of the market opportunity and believed in the strength of Beni and his team. We are very pleased to continue supporting ciValue’s growth with additional investments, along with our new partners, Deutsche Telekom.”
ciValue CEO and founder Beni Basel is a pioneer in the field of algorithm-based recommendations, having founded Ingeneo, a global leader in personalization and real time recommendation, in 2000 and sold to SAP in 2007, where he then served as Global VP of CRM Advanced Solutions Management.
“As a former enterprise CRM executive I’m painfully aware of the massive investments that retailers make just to enable basic use of their own data. With ciValue, we believe in putting customer science in a box, and giving control of that box to marketers, and through them, giving value to suppliers,” said ciValue CEO Beni Basel.
“We don’t invest in companies – we invest in people,” said Ralph Riecke, Investment Manager at Deutsche Telekom’s hub:raum innovation hub. “We invested in ciValue because Beni Basel is a true pioneer and innovator with fifteen years of experience in the field of retail personalization and recommendation, and he’s supported by a team with strong technical and business proficiencies that will enable growing ciValue’s business exponentially.”
ciValue’s cloud-based customer insight and personalization software uses advanced data science algorithms to rapidly glean customer insights from vast amounts of purchase data. FMCG retailers and CPG manufacturers use ciValue to create a personalized, omni-channel retail experience, anticipating consumers’ desires and needs, thus driving loyalty, and enhancing profit. For more information, please visit http://www.civalue.com/
Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers watch and buy. Nielsen’s Watch segment provides media and advertising clients with Total Audience measurement services for all devices on which content — video, audio and text — is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry’s only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen also provides its clients with analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90% of the world’s population. For more information, visit www.nielsen.com.