London-based analytics and AI personalisation platform Personify XP has closed a £550,000 pre-seed round.
Investors include Founders Factory, Touker Suleyman and angels.
As part of Founders Factory’s investment, its operations team across a number of core business functions are providing support.
The firm claims to be the world’s first real-time analytics and personalisation platform for an increasingly anonymous section of website visitors.
The reduction in the use of cookies, driven in part by legislation such as GDPR and CCPA, as well as changes occurring within browsers like Safari and Google Chrome, mean eCommerce sites find it more difficult to track their visitors.
The firm’s tech is designed to automate the types of content and products that consumers see, allowing retailers to react in real-time to changes in an anonymous consumer’s digital journey.
It claims this drives on average a 10% increase in revenue for the brands the company works with, it said.
Personify XP’s partners include boohoo, Farfetch, 7 For All Mankind, Pentland Brands, Hawes & Curtis, and Lovehoney. The new funding will accelerate the growth of Personify XP’s platform for its direct business and indirect partners.
“Our goal is to ensure consumers do not have to sacrifice their anonymity to have a great brand experience,” said Ben Mercer, CCO of Personify XP.
“With growing privacy laws, starting with GDPR in Europe and most recently the California Consumer Protection Act (CCPA) this year, privacy is hampering the huge opportunity brands see from great digital experiences and the revenue gains possible from driving more personalised experiences to their customers.”
Mercer continued: “It’s an exciting time for Personify XP as we continue to see successful adoption of our vision. We have found excellent partners in Founders Factory, who immediately bought into our vision of personalising brand experiences to anyone, anywhere, without the need for any personal data.”
Touker Suleyman, Fashion Retail Entrepreneur and TV Personality on Dragon’s Den commented: “I continue to be in awe of what the Personify XP team have been able to deliver with the platform in market and for my own brands like Hawes & Curtis, Ghost and Bikesoup.
“Consumers online have been so used to getting frustrated by their online experiences with irrelevant content and product recommendations. Personify XP has blown away the market by being able to deliver in real-time website adaptation to better service customers behaviours without anyone having to give away their data.”