Lightweight personalisation platform Breinify succeeds with record-breaking closing; raises a total of $11M. 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 is taking the world by storm with their incredibly powerful AI personalisation platform. They have done a phenomenal job in understanding and achieving measurable ROI for their customers. And from the first day I met Diane and Philipp, I believed fully in their vision and mission. I am confident that the Breinify team and product is perfectly positioned to be at the forefront of the data science horizon,” said Bob Davoli, managing director at Gutbrain Ventures.
Breinify has seen tremendous growth, upselling to 81.25 per cent of existing customers, increasing net new revenue by 4.3 times and having enough runway for 15 months in fiscal year 2020.
In 2021, personalisation is more important than ever. There is no room for broad, generalised marketing. Customers crave and expect personalised experiences that subtly enable them to discover and find products they actually want. Data science is a powerful way to take personalisation to the next level.
The company’s mission is to democratise data science for non-technical marketers and allow enterprises to harness the power of data science and predictive personalisation without a team of data scientists. 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 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.
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 per cent increase in CRM growth.
“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.”
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.