Customer engagement and personalization platform provider Dynamic Yield has raised $22 million in a funding round led by Vertex Ventures and ClalTech, with participation from Global Founders Capital and Baidu Inc., the leading Chinese language Internet search provider. Existing investors Bessemer Venture Partners, Marker LLP and Innovation Endeavors also participated.
The vendor plans to use the funding to hire staff and open offices around the world, says Dynamic Yield CEO Liad Agmon.
“Hiring in product and [research and design] will be the biggest focus,” Agmon says. “This includes developers, machine learning experts and data scientists. The second focus will be geographic expansion. We just opened an office in Singapore and we’ll fund expansion there. We’re also expanding our presence significantly in our existing markets—North America and Europe.”
Retailers’ product and marketing teams use Dynamic Yield’s platform to create machine learning-based personalized experiences that are synchronized across all digital channels, including web, mobile web, apps and email. Among its clients is Russian fashion online retailer Lamoda, No. 126 in the Internet Retailer 2016 Europe 500, which grew its revenue and conversion rate following a push to personalize its website for shoppers using Dynamic Yield software.
Dynamic Yield has raised $36.25 million to date in four rounds from 12 investors, according to data from Crunchbase,