The Wappier Platform Maximizes Revenue and Retention by Using AI to Model and Predict Consumer Behavior to Recommend the Next Best Action in Real-Time
wappier, the Intelligent Revenue Management platform for apps and businesses, announced that it has raised $4 million in seed funding as it continues to build its AI-powered revenue management and data visualization platform. The round of financing was led by Counterview Capital, with participation from other private and institutional investors.
The wappier platform transforms the way mobile app developers drive retention and revenue by leveraging Artificial Intelligence to predict consumer behavior and automatically deliver personalized offers and loyalty programs. Meanwhile, marketers from any vertical can leverage wappier’s groundbreaking 3D data visualization technology to extract actionable insights from complex datasets that are visualized in a way that finally makes sense. The platform goes beyond typical marketing automation by understanding, modeling, predicting, and influencing consumer behavior by closing the loop and delivering the next best action based on each individual’s propensity to react.
“Mobile apps, and the digital ecosystem at large, have created a flood of data, but the truth is that most marketers lack the tools to ask the right questions so that they can deeply understand the data and take action on it,” said Alex Moukas, founder and CEO of wappier. “Our machine-learning based data visualization engine enables enterprises to leverage descriptive analytics to review the past, predictive analytics to forecast the future, and prescriptive analytics to affect future consumer behavior with personalized next best action recommendations.”
In today’s technology ecosystem, machine learning is used extensively for user acquisition, but it is rarely utilized post-acquisition to boost revenue, increase engagement, and reduce churn. wappier’s platform offers an automated loyalty solution that improves engagement and retention, a pricing optimization engine to maximize revenue, and other 1:1 marketing campaigns and tactics to optimize the entire post-acquisition consumer journey.
Integrated into over 80 apps and transactional systems, wappier’s Intelligent Revenue Management platform currently analyzes more than two billion data facts per day from over 15 million consumers. Existing customers have experienced an average increase of 25 percent in retention rates and 30 percent in per-user revenue. The 50-person company was founded by seasoned technology executives with deep AI expertise and multiple exits under their belts, including two IPOs.
“We invested in wappier because of its powerful AI and machine learning technology that maximizes the value of every consumer, making it an invaluable technology platform for app developers and marketers in a way that goes beyond marketing automation tools,” said Evan Burnstein, Partner with Counterview Capital. “Perhaps the bigger play here, however, is wappier’s truly innovative 3D data visualizations tools, which deliver customer insights to marketers in a way that has never been done before. The platform is leveraging machine learning to go from chaotic data pools to valuable information by deciding the what and the how of data visualization. Not only is the company bringing a level of sophistication to revenue and loyalty marketing that the industry so desperately needs, but it is going to completely revolutionize the data visualization and audience management industry by giving answers to questions you didn’t know you should be asking.”
This round of financing will enable wappier to continue enhancing its platform and product roadmap, while further strengthening its team in the US and Europe to meet the rising demand and supporting key business areas such as data science, product, sales, and marketing.