Israeli Startup Revuze Raises $5 Million Series A for Customer Analysis Software
SAN FRANCISCO and NETANYA, Israel, March 25, 2020-- Yesterday, Revuze, the first company to bring Artificial Intelligence (AI) to both brand and product management, has announced a $5.1 million financing round, despite the coronavirus crisis, with this new round the company has raised a total of $12 million.
Revuze is an Israeli market research company offering an all-automated customer opinions analyzer. Our product is built around a self-learning artificial intelligence and therefore unconstrained by human imagination, so it is able to go deeper than any existing product and provide data-driven insights never seen before.
The system can undertake a deeper and more significant analysis than any other product currently available on the market and provide insights based on data that it has not previously been possible to obtain. Assisted by Revuze, any business user can for the first time make decisions based on data without requiring the help of analysts, data scientists, information technologists, and the like.
The company's flagship product Revuze Explorer scans millions of consumer opinions on a daily basis from a range of public and internal information sources and through machine learning, AI semantic analysis of texts, dividing and organizing all the information into the most relevant subjects for every brand and product. In this way, a company can receive immediate feedback about its products and brands and those of its rivals in real-time.
Revuze recently began to provide its customers with customer loyalty reports such as Net Promoter Score (NPS) and measuring their consumer satisfaction (CSAT) as well as that of their rivals. All this is in real-time and for the first time without needing to conduct customer satisfaction surveys. During the current coronavirus crisis, with all customers switching to buy every product online, understanding the customer's needs becomes even more important.
The current financing round was led by Maverick Ventures Israel, a new investor in the company, with the participation of existing investor Prytek, which invested in the previous round. Prytek is an international investment group, which in addition to the capital investment has set up for its portfolio companies international marketing, distribution, and sales network for the companies' products which brings in additional revenue. In the case of Revuze, Prytek has established a successful marketing network for the company's products in several countries.
Revuze CEO Boaz Grinvald says: "I'm excited to partner with the great team at Maverick Ventures Israel, as well as strengthen our successful partnership with Prytek. These great investors recognized the revolution Revuze is bringing to global brands. We are the first to make deep market insights available to any business user from the comfort of their desk at an affordable price. No more standing in line for data or waiting on research to come back. Now any business role can make the best possible decisions."
Regarding Revuze's Technology, Grinvald explains: "Our technology allows us to provide every business user with deep market insights from their work desk at a price every pocket can afford. There is no longer a need to hang around to receive data or complete research. Now every business manager can make the best decisions. Despite the coronavirus crisis, we have hired 10 employees and we are working to continue increasing our team."
Prytek Investment Group Founder and Managing Partner Andrey Yashunsky: "The investment in the company expresses our belief in Revuze and the distribution network that we have created. In our portfolio of companies are many ventures that can help Revuze's technology and we will continue to leverage the product and produce maximum profitability from it."
The Series A financing builds on strong market adoption from fortune 500 companies that leverage our data for faster data-driven decision making. This funding will be used to ramp up our sales and marketing efforts and hire bright talents for our R&D department.
Venture Capital Database