Wigzo — a plug-and-play solution that helps marketers personalise all customer touch-points across email, web, mobile, push notifications, and on the page — has raised an undisclosed amount in bridge round, led by existing investor 3one4 Capital.
Existing investors, including Aarin Capital, Advantedge Partners and Rohit Malik of DMA Cap, alongside new investors, including Arjun Sharma of Select Hospitality, Mohit Gulati of Altius Ventures and Vic Kaul (former executive at VMware), have also joined the round.
The company will use the investments for product development, marketing as well as for expansion. “This investment will help us expand operations to North and South America in the coming months,” Co-founder and CMO Himanshu Kaushik told e27.
The company previously received US$500,000 in pre-Series A round of funding, led by Aarin Capital Partners and Manipal Global Education Chairman TV Mohandas Pai, in December 2015.
Wigzo was founded in 2013 by Umair Mohammed, Himanshu Kaushik, Shamail Tayyab and Vikrant Khushu. It is a personalisation platform with a focus on 1:1 customer interaction with browser desktop notifications, dynamic email, product recommendations, and dynamic onsite notifications, across all digital channels from a single integrated dashboard.
This Artificial Intelligence-driven platform has on-boarded 300-plus customers across seven countries to date. In 2016, over 1 billion personalised messages and 100 million recommendations were sent using Wigzo’s platform, it said in a press release.
CEO Umair Mohammad 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 behavioural data and machine intelligence to make it happen.”
Solving a global problem
Intelligent personalisation has emerged as one of the key focus areas for marketers across industries, but only 10 per cent of digital marketing teams are satisfied by their current efficiencies. 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-personalised, traditional marketing has led to significantly lower click-throughs 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, right content, on the right device and at the right time. Through Wigzo, users receive highly relevant and contextual communications from the brands.
Wigzo also uses data analysis and machine learning techniques to help clients communicate with their users in a more personalised manner. Wigzo’s proprietary technology maps user behaviour 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 is already profitable, and is growing at 15 per cent month on month, and we are targeting to reach 1 million monthly run-rate in 18 months,” said Himanshu Kaushik, Co-founder and CMO, Wigzo.
Pranav Pai of 3one4 Capital 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.”
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