Including the fresh new funding, AI startup Breinify raises a total of $11M to help consumer enterprises harness the power of predictive personalization
Breinify, the leading lightweight personalization platform, shatters milestones, drums up multiple term sheets three days after first investor meetings and succeeds with record-breaking closing. This new round was led by Gutbrain Ventures and PBJ Capital, with participation from Streamlined Ventures, The CXO Fund, Amino Capital, Startup Capital Ventures and Sterling Road.
Breinify has seen tremendous growth, upselling to 81.25% of existing customers, increasing net new revenue by 4.3 times and having enough runway for 15 months in fiscal year 2020. New funds will be used to triple down on go-to-market execution, meet the increase of market demand, support customer growth and expand product features.
The company’s mission is to democratize data science and allow enterprises to harness the power of data science and predictive personalization without a team of data scientists. Breinify already works with Fortune 500 companies in the retail and consumer goods industries and is looking to rapidly grow its business in the coming months.
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“On behalf of all Breiniacs and myself, I am beyond ecstatic to partner with Bob Davoli, managing director at Gutbrain Ventures, and Bruce Clarke, managing director at PBJ Capital. Ullas Naik, managing partner at Streamlined Ventures, was amazing to introduce me to Bob and Bruce,” said Diane Keng, CEO of Breinify. “After a fiercely competitive negotiation war between multiple firms, we felt Bob’s and Bruce’s expertise and networks were the perfect fit to lead our seed round. Also a huge shout out to our existing investors Gary and Atul from The CXO Fund, Larry Li from Amino Capital, Donavan Kealoha from Startup Capital Ventures and Ash Rust from Sterling Road for moving swiftly and supporting us continuously!”
Breinify’s round was oversubscribed due to new logos and repeatable land-and-expand business models during the pandemic. The product processed more than 480 million consumer journey data points with no downtime. Customers such as BevMo!, Duraflame and others experienced astronomical ROI, including $125 million in new revenue, 20 times with A/B testing for more than two page visits and a 105% increase in CRM growth.
In 2021, personalization is more important than ever. There is no room for broad, generalized marketing. Customers crave and expect personalized experiences that subtly enable them to discover and find products they actually want. Data science is a powerful way to take personalization to the next level.
Breinify’s AI-powered personalization platform democratizes data science for non-technical marketers. It allows revenue leaders to achieve more with less, invest in smart systems instead of headcount and drive delightful consumer experiences at the individual level with minimal engineering. The platform seamlessly connects and collects first-party data, uncovers insights, streamlines and executes the consumer experience and works fully end to end to provide clear metrics.
“Breinify is essential to our future marketing strategy,” said BevMo! CMO Matthew Champion. “They have been amazing in delivering scalable results and lifting our sales through their AI, and have become an integral part of our brand’s acquisition and engagement efforts.”
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