Ocurate raises $3.5 million to demonstrate customer lifetime value for B2C businesses

Ocurate, an e-commerce startup that uses artificial intelligence to forecast client lifetime value, raised $3.5 million in an oversubscribed seed round.

8-Bit Capital, DCF Capital, Data Community Fund, AIX Ventures, Italmobiliare, Streamlined Ventures, and confident individual strategic angel investors such as Adam Metzger and Mazen Al-Jubeir are among the round’s backers.

Tobi Konitzer, the company’s founder and CEO, created Ocurate in July with the goal of establishing lifetime value as an organising concept for business-to-consumer businesses. The company’s “secret sauce,” according to Konitzer, who was previously co-founder and CEO of PredictWise, is a SaaS deep machine learning framework optimised over Ocurate’s proprietary database and client data that predicts people’s behaviour with greater than 90% accuracy.

According to him, Ocurate’s database began with voter rolls and has now gathered data from more than 300,000 Americans. It also collects data from clients; for example, if you’re a Netflix user, the data may contain login information, telemetry information, and previous purchases.

“Ocurate’s technology allows our clients to take actions on lifetime value confidently at all stages of the life cycle, which has a significant impact on our customer’s overall business with a potential increase of gross profit by over 15%. Lifetime value should be the thing that governs everything.”

Tobi Konitzer, the company’s founder and CEO
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