Namogoo, the Israel-based company that has developed a solution for e-commerce and other online enterprises to prevent “customer journey hijacking,” has acquired behavioural analytics company Personali. Terms of the deal remain undisclosed, although we understand the Personali is joining Namogoo.
Described as a “strategic acquisition,” Personali — which was founded in 2011 and had raised $15 million to date from backers such as Norwest Venture Partners, Cedar Fund, and Gemini Partners — provides “AI-powered” behavioural analytics tools for personalising in-site incentives and therefore helping to increase sales.
Specifically, it claims that by optimising and personalising discounts at strategic moments along the customer journey, brands using Personali’s various solutions have seen conversions increase by 32% while reducing the cost of promotions by 30%. That dovetails nicely with Namogoo’s proposition.
Founded by Chemi Katz and Ohad Greenshpan in 2014, Namogoo’s platform gives online businesses more control over the customer journey by preventing unauthorised ad injections that attempt to divert customers to competitors. It also helps uncover privacy and compliance risks that can come from the use of third and fourth-party ad vendors.
In October, Namogoo raised $40 million in Series C funding, in a round led by Oak HC/FT, with participation from existing backers GreatPoint Ventures, Blumberg Capital and Hanaco Ventures.
At the time, the company told TechCrunch that retailers using its technology see conversion rates increase between 2-5%, which in the first half of 2019 totalled more than $575 million in revenue for Namogoo customers. It is used by more than 150 global brands in over 38 countries, including Tumi, Asics, Argos, Dollar Shave Club, Tailored Brands, Upwork and others.
Meanwhile, Namogoo says the acquisition will enable it to offer a more robust set of services to both new and existing e-commerce clients, spanning solutions to help increase customer engagement, loyalty, and conversions.
“We are very excited to integrate Personali’s advanced solutions and extraordinary team into our company,” said Chemi Katz, Namogoo CEO and co-founder, in a statement. “Our goal has always been to help brands provide their customers with the best possible shopping experience and increase sales, which fits perfectly with the Personali solution”.