Traitify Raises $4M Series A to Fuel National Growth
World's First Personality API Company Sets Sights on Revolutionizing Customer Personalization for Businesses
BALTIMORE, Md., August 12, 2014-- Traitify, the catalyst for true personalization in apps and services, today announced that it has raised $4 million in Series A funding, led by Heritage Capital, Charles "Chip" Morris, Thomas Hitchner and other individual investors. To date, Traitify has raised over $8 million, including $2 million in convertible notes.
With this capital, Traitify plans to aggressively bring on key hires to their current team of 18 and actively pursue new partners interested in offering personality-based recommendations to customers. This funding will also contribute to Traitify's momentum in broadly extending its personality API -- launched just last month -- to businesses and app developers in any industry.
"The future of customer experience lies in empowering businesses and app developers with the ability to generate smart and accurate personality-based recommendations. Our goal is to be the primary springboard for businesses to really get to know their customers and understand what makes them tick," said Derek Mercer, CEO of Traitify. "With the support from our investors, we are able to make sure that our technology is widely accessible. We will continue building on a strong product, with the intention of helping businesses raise the bar for customer personalization."
Traitify's core technology combines big data and psychology to collect observable patterns in order to make smart predictions in terms of customer behavior, preferences and tendencies.
The company challenges the traditional, lengthy process of personality assessments by employing a binary, image-based approach to create a fast, interactive and accurate assessment. Based on the personality data collected, Traitify is able to help businesses match the right features, products or services to unique individuals.
Charles "Chip" Morris, an investor in Traitify's Series A funding, explains, "Personality is quickly emerging as a fourth dimension of targeted advertising, augmenting demographics, behavioral, and location. The team at Traitify has the opportunity to build a very valuable franchise, and I am pleased to be a part of it."
Traitify is currently in talks with several major players interested in integrating the API across several verticals including careers, social, dating, movies, commerce, enterprise and internet and already caters to over 30 customers in the educational and government space.
"Monster Government Solutions is excited about aligning with Traitify to bring their innovative personality assessment tools such as Woofound Compass to market," said Susan Fallon, Vice President for Global Strategy and Business Development for Monster Government Solutions. "Collaboration like this will deliver strong value to students, job seekers, and the professionals who help them in government and education."
The Traitify press kit, containing screenshots, executive bios and the Traitify logo, is available here.
Founded in 2011, Baltimore-based Traitify (previously Woofound) unlocks the potential of psychology and big data through a visual personality assessment that is quick, accurate and accessible to businesses and entrepreneurial developers.
Traitify's current customers (for its SaaS-based version) include more than 30 organizations in a range of industries. The Traitify team is made up of technology-industry veterans with experience in software, design and multimedia as well as accomplished board-certified psychologists.
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