Machine-Intelligence Driven Personalisation Platform Wigzo Raises Funding From Existing And New Investors
Wigzo has a Plug and Play Solution that helps marketers effectively personalize all customer touch points across email, the web, mobile, push notifications, and on the page.
Personalisation platform Wigzo has raised an undisclosed amount of funding led by its existing investor 3one4 Capital. The round also saw the participation of its existing investor Aarin Capital and Advantedge Partners and Rohit Malik (DMA Cap) and new investors including Arjun Sharma of Select Hospitality, Mohit Gulati of Altius Ventures and Vic Kaul (Ex-Executive - VMware).
Speaking on the amount of information people consume today, Umair Mohammad, the CEO said, “Trillions of marketing messages are sent daily, and almost 740 Billion of them go in spam. Users today are overburdened with information, a lot of which is not relevant to them. Consider a user landing on an e-commerce site and seeing something they don’t want to buy - if the user is not interested in that offering, he is essentially being spammed. We believe that users should only see things that they are interested in and we use 1:1 communication driven by behavioral data and machine intelligence to make it happen.”
Intelligent personalisation has evolved as the hottest space in digital marketing technology, with the industry growing at 24% CAGR, according to Gartner. More than one-third of the marketers believe personalisation is the way forward across the web, mobile web, and apps. It has emerged as one of the key focus areas for marketers across industries, but only 10% of digital marketing teams are satisfied by their current efficiencies.
Wigzo has a Plug and Play Solution that helps marketers effectively personalize all customer touch points across email, the web, mobile, push notifications, and on the page. It provides the most comprehensive set of tools built for marketers, making launching a machine-intelligence driven personalised campaign a matter of a few clicks.
User experience is adversely affected by a product that does not show relevant information to their users. This is a global problem faced by all companies that wish to connect with and engage their customers meaningfully. Such non-personalized, traditional marketing has led to significantly lower clickthroughs and poor conversion rates for brands. Wigzo aims to solve this issue by making their clients reach out to their audience in real time, with the right message, the right content, on the right device, and at the right time. Through Wigzo, users are assured to receive highly relevant and contextual communications from the brands.
Wigzo, which was founded in 2013 by Umair Mohammad, Himanshu Kaushik along with Shamail Tayyab and Mohammed Atyab, currently empowers more than 300 brands across 7 countries. Brands like Awok, Mr. Button, and W for woman are using Wigzo to boost their customer lifetime value. The tactic has proven to be far more effective at engaging and converting customers than traditional methods.
Wigzo uses state of the art data analysis and machine learning techniques to help their clients communicate with their users in a more personalized manner. Wigzo’s proprietary technology seamlessly maps user behavior on the application to the users’ preferences and can deliver contextual communication in real time increasing the relevancy of the message to the end user. Wigzo’s customers have witnessed an average 7x ROI, 23% increase in clickthroughs, and 14% increase in conversions. In 2016, over 1 Billion personalized messages and 100 Million recommendations were sent using Wigzo’s platform. Over a billion data points are captured monthly on the platform.
“Wigzo is already profitable, and is growing at 15% Month on Month, and we are targeting to reach 1 Million MRR in 18 months,” said, Himanshu Kaushik, Co-founder & CMO, Wigzo.
Pranav Pai of 3one4 Capital, the Lead Investor, said “Wigzo has delivered an orbital shift in retargeting efficiency to a very healthy spectrum of clients - from early-stage product companies, financial institutions, new media platforms, and niche online retailers. The machine-learning-driven platform has proven ROI amplification and is demonstrating clear evidence of data network effects at scale. With a continued focus on value addition and partnerships, the team is aiming to change the game of online marketing. We are very excited to see the rapid evolution of this value proposition, and we are looking forward to working with the team more closely as they scale beyond India.
”Kunal Khattar, Partner at AdvantEdge, said, “Wigzo is building a best in class platform to maximize communication effort by optimizing marketing spends. It's an invaluable tool to those running integrated communications across all platforms and wanting to calculate ROI on every rupee spent on customer engagement. AdvantEdge is focused on supporting companies like Wigzo and their passionate Founders to create world class solutions for global markets."
“A new name amongst the investors was Select Hospitality owner and Travel Industry Stalwart Arjun Sharma. Arjun said, “As Investors, we feel Wigzo has demonstrated the ability to take a good idea to a great execution. In the increasingly competitive Mar-Tech space, their vision and capability to eliminate spam make brands more relevant to their consumers will help them scale up globally faster than their peers.
”Wigzo, which has partnerships already in place across Japan, Indonesia, and Australia, plans to utilize the fresh round of funding to expand into North and South America. Speaking of the potential scale of the market and technology, Umair said, “Since the product addresses the problem global in nature and we have huge demand coming from overseas markets, it makes perfect sense to actively expand in new regions.”
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