Yieldify, a London-based predictive marketing startup, has got Series A funding of $11.5 million from Softbank and Google Inc (NASDAQ:GOOG). As per the reports, Yieldify was founded by brothers Meelan and Jay Radia. The duo started 13 companies before trying their hands on Yieldify.
Why Yieldify Grabbed Attention of Two Industry Leaders:
If an online store knows what anyone who browses it needs, it can present better products, and eventually make higher sales. In today’s era where e-commerce industry is growing at a swift rate, major companies are craving for any such technology that can predict what consumer wants. Radia brothers claim to have come up with a predictive analytic tool that can help companies doing that.
Yieldify doesn’t work like other SaaS companies i.e. it doesn’t make profits through subscriptions but by taking a percentage share in the revenue generated through sales. Even though, conversion-optimization model has been in existence for over 10-12 years. But in today’s fast growing market, customers have become smarter; hence, companies crave for such tools that can lead to higher revenues without any hassle. Rather than the conversion optimization tool, developers have started using A/B testing tool to offer a most customer-centric experience.
Yieldify identifies over 1000 e-commerce companies that can use its services and increase their revenues in an amazing way. As of now, Yieldify is growing at an unbelievable rate of 480% on yearly basis. No other SaaS company in London is growing at a better rate than this predictive marketing startup.
Yieldify was founded in 2013 and started generating profit within initial six months. It set up an office in New York in 2014 and instantly got the attention of many investors. It chose Index Ventures and Hoxton Ventures for a seed round, and now it has picked up Google Inc (NASDAQ:GOOG) and Softbank for Series A funding.