Company uses machine learning to create personalized, digital experiences to optimize user engagement
LiftIgniter, a personalization API for every digital touchpoint, announced it has completed a $6.4 million Series A round of financing. Storm Ventures led the round with participation from Rincon Venture Partners, Revel Partners, and NTT DOCOMO Ventures, Inc. Angel investors Tom Chavez, CEO and cofounder of Krux, and Bruce Falck, General Manager of Revenue Product at Twitter, also participated in the round. The investment brings LiftIgniter’s total funding to $8.25 million to date. The new funds will be used to keep LiftIgniter at the forefront of machine intelligence and accelerate company growth.
“Digital properties spend huge amounts of time and money to get visitors to their site or app but then fail to personalize, which reduces your return on investment. At our core, LiftIgniter is a machine learning and math company, built to provide a true personalization layer to the Internet that enhances the end-user experience, and increases positive outcomes for our customers’ business goals,” says Indraneel Mukherjee, CEO of LiftIgniter. “.”
LiftIgniter’s API is a single tool for all personalization needs that delivers a wholly unique experience to every individual user impression. Each user action has an intelligent, real-time reaction. Internal data analysis teams are overwhelmed with low quality information and simply don’t have the capacity to individualize the experience for each user, at scale. With LiftIgniter, the personalization algorithms run 24/7, learning and reacting to each impression in real-time to predict and serve up tailored content for every touchpoint. The platform is agnostic across all content, languages and devices. It can be fully integrated and operational within a few hours, with minimal ongoing management.
“Every digital company needs personalization in order to win. That, coupled with our philosophy of partnering with bleeding-edge SaaS players, made investing in LiftIgniter an easy choice. Google, Facebook and Amazon are already using machine intelligence in their offerings to create the best user experience. Companies that don’t personalize won’t be able to compete. LiftIgniter levels the playing field and brings difficult technology to the masses,” says Ryan Floyd, founding Managing Director of Storm Ventures. “.”
LiftIgniter averages an 80 percent improvement in click-through-rate, engagement and conversion for its customers, and metrics are set based on each customers’ specific KPIs. The company, which was profitable in the first quarter of 2017, currently boasts five billion page views per month, with customers in the United States, Europe and Asia.
LiftIgniter was founded by Indraneel Mukherjee and Adam Spector in 2014, with the mission of creating intelligent, dynamic user experiences for all content. Prior to founding LiftIgniter, Indraneel worked in a small team at Google that pushed the boundaries of machine learning research and infrastructure by building the world’s largest and first real-time personalization engine. Adam Spector previously ran a social data science company, and did business development at Clearwell Systems, an e-discovery company that sold to Symantec for $400 million.