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Optimove

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Optimove
Company typePrivate
Industry
Founded2009; 15 years ago (2009)
Headquarters
New York
,
United States
Area served
Worldwide
Key people
  • Pini Yakuel, CEO and Co-founder
ProductsCustomer Marketing Cloud
Number of employees
210 (2019)
Websitewww.optimove.com www.postfunnel.com

Optimove is a privately held company that develops and markets a Relationship Marketing software as a service (SaaS). Optimove's product has a Customer Data Platform at its core and applies algorithmic optimization[1] to autonomously improve multichannel campaigns. The company serves various industries, including retail, eCommerce, travel and hospitality, gaming, and financial services.

Corporate History

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Optimove (initially named Mobius Solutions) was founded in 2009 by Pini Yakuel and Shachar Cohen,[2] and released the first version of its software (initially named Customer Value Maximizer) in 2010.

The company is headquartered in Tel Aviv, Israel,[3] with additional offices in London (opened in 2015[4]) and New York City (opened in 2016[5]) and employs more than 200 people.[6]

Optimove partners include IBM,[7] Internet gaming platform provider iSoftBet,[8] India's largest poker site, Adda52.com,[9] binary options trading platform provider, TradoLogic,[10] and social gaming operators Crazy Panda, Jelly Button Games and LuckyFish Games.[11]

Funding, Branding, and Acquisitions

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In September 2016, Optimove raised its first outside funding, a $20 million round from Israel Growth Partners that valued the company at $100 million.[12]

In 2018, Optimove acquired the DynamicMail business from PowerInbox.[13]

In early 2020, Optimove announced the acquisition of Axonite.[14]

Software and Technology

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Optimove is a SaaS application that implements a systematic approach to planning, executing, measuring and optimizing a company's customer marketing plan with the goal of maximizing customer lifetime value. The software models each customer's behavior and preferences in order to predict which marketing campaigns will be most relevant for each individual.[15]

The marketing channels supported by Optimove include email, SMS, mobile push notification, website/app pop-ups, Facebook Custom Audiences[16] and Google Ads.[17]

The software is based on a combination of technologies, including predictive customer modeling, customer micro-segmentation,[18] multi-channel campaign automation, real-time campaign triggers,[19] and systematic campaign optimization using scientific control methodologies. The application's primary interface is a calendar-based marketing management tool that helps users track and optimize campaigns.[20] Campaigns are analyzed as measurable marketing experiments[21] so that users can determine the financial uplift that each marketing campaign generated.

The Optimove product doesn't collect or use any customer-identifying demographic data, which eases privacy concerns.[22]

References

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  1. ^ "Gartner Magic Quadrant for Multichannel Marketing Hubs". www.gartner.com.
  2. ^ Takahashi, Dean (2014-03-04). "Optimove tracks the behavior of Facebook app users and targets them with enticing offers". VentureBeat. Retrieved 2016-07-06.
  3. ^ Sacco, Dominic (2013-10-30). "All big tech retailers will have customer retention systems in ten years". PCR Online. Retrieved 2016-07-27.
  4. ^ Saks-McLeod, Andrew (2015-04-02). "Customer marketing and retention specialist Optimove opens London office". LeapRate. Retrieved 2016-07-06.
  5. ^ Roy, Rohit (2016-05-18). "Optimove Looks to Accelerate US Business Growth with New Office in NYC". MarTech Advisor. Retrieved 2016-07-06.
  6. ^ "Optimove raises $20 million for mobile marketing retention campaigns". VentureBeat. 14 September 2016. Retrieved 2017-01-08.
  7. ^ "Partners – Optimove". Retrieved 2016-07-06.
  8. ^ "iSoftBet to roll out Optimove CRM tech across customer platform". iGaming Business. 2013-09-19. Retrieved 2016-07-06.
  9. ^ Glocks, Tim (2014-04-07). "Israeli based Optimove Partners With Indian Online Poker Operator Adda52". Poker Online. Retrieved 2016-07-06.
  10. ^ "Optimove and TradoLogic Announce Collaboration for The Ultimate Combination of Trading Platform and Marketing Campaign Optimization". PRWeb. 2013-05-29. Archived from the original on July 28, 2013. Retrieved 2016-07-06.
  11. ^ "Retention specialist Optimove wins trio of new partnerships". Gaming Intelligence. 2015-02-06. Retrieved 2016-07-06.
  12. ^ Haggin, Patience (2016-09-13). "Optimove Raises $20M From Israel Growth Partners". Wall Street Journal. Retrieved 2016-09-18.
  13. ^ Optimove. "Optimove Expands Email Capabilities with Acquisition of the DynamicMail Business from PowerInbox". www.prnewswire.com (Press release). Retrieved 2021-03-27.
  14. ^ Optimove. "Optimove Expands Realtime Data Capabilities with Acquisition of Event Streaming Technology Vendor, Axonite". www.prnewswire.com (Press release). Retrieved 2021-03-27.
  15. ^ Karr, Douglas (2015-06-13). "The Customer Journey and Optimove Retention Automation | Marketing Technology". Retrieved 2016-07-27.
  16. ^ Cohen, David (2014-05-03). "Retention Marketer Optimove Interfaces With Facebook Via API, Updates Custom Audiences Daily". Adweek. Retrieved 2016-07-06.
  17. ^ "Optimove Integrates With Google Ads To Boost Customer Retention". Retail Touchpoints. 2016-08-25. Retrieved 2016-09-18.
  18. ^ Huhman, Heather (2013-10-02). "Optimove Releases New Suite of Customer Marketing Tools". Business Insider. Retrieved 2016-07-06.
  19. ^ Roy, Rohit (2015-01-15). "Real-Time Benefit Added to Optimove's Personalized Customer Marketing Platform". MarTech Advisor. Retrieved 2016-07-03.
  20. ^ Schiff, Allison (2013-10-02). "Segment, Monetize, Retain, Repeat". Direct Marketing News. Retrieved 2016-07-06.
  21. ^ Yakuel, Pini (2013-10-12). "How to build a scientific approach to customer marketing". GigaOm. Retrieved 2016-07-06.
  22. ^ Stuart, Laura (2013-12-05). "Online gambling: lessons in marketing tech and customer behavior". GigaOm Research. Retrieved 2016-07-06.
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