Optimove

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.

Optimove
TypePrivate
Industry
Founded2009
Headquarters
Tel Aviv
,
Israel
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

Corporate History

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

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 May 2017, the company launched PostFunnel.com, an educational content marketing project in the form of a digital professional publication, aimed at Relationship Marketing professionals that operated for 5 years. In 2019 the company expanded the PostFunnel brand to include all customer and industry events the company organizes and hosts.

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

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

In September 2021 the company announced a $75 millions growth fund investment, secured from Summit Partners.

In March 2022 the company announced the acquisition of mobile marketing platform provider Kumulos.

In July 2022 the company announced the acquisition of personalization platform Graphyte.

Software and Technology

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]

Critical reception
  • Deloitte Consulting included Optimove in the Deloitte EMEA 2016 Technology Fast 500, 8 December 2016[23]
  • Deloitte Consulting included Optimove in the Deloitte Israel 2016 Technology Fast 50 list, 29 November 2016[24]
  • Israel21c included Optimove in its list of 11 Israeli companies to watch in marketing technology, May 4, 2016.[25]
  • Killer Startups included Optimove in its list of 14 Marketing Automation Tools That Can Save Hundreds Of Hours, January 15, 2015.[26]
  • The Huffington Post included Optimove in its list of 10 Impressive Tel Aviv Tech Startups, August 6, 2013.[27]
  • Forbes included Optimove in its list of 15 Marketing Software That Can Boost Your Business, July 28, 2013.[28]
  • Silverpop selected Optimove as its 2013 EMEA Partner of the Year, July 2, 2013.[29]

References
  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. 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. Retrieved 2021-03-27.
  14. Optimove. "Optimove Expands Realtime Data Capabilities with Acquisition of Event Streaming Technology Vendor, Axonite". www.prnewswire.com. 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.
  23. "Deloitte 2016 Technology Fast 500 EMEA" (PDF). Deloitte Consulting. 8 December 2016. Retrieved 2016-12-26.
  24. "Deloitte 2016 Technology Fast 50 Israel" (PDF). Deloitte Consulting. 29 November 2016. Retrieved 2016-12-26.
  25. Klein Leichman, Abigail (2016-05-04). "11 Israeli companies to watch in marketing technology". Israel21c. Retrieved 2016-07-06.
  26. Chester, Ryan (2015-01-15). "14 Marketing Automation Tools That Can Save Hundreds Of Hours". Killer Startups. Retrieved 2016-07-06.
  27. Ducoff, Kevin (2013-08-06). "10 Impressive Tel Aviv Tech Startups". The Huffington Post. Retrieved 2016-07-06.
  28. "15 Marketing Software That Can Boost Your Business". Forbes. July 28, 2013. Retrieved 2015-08-13.
  29. "Silverpop's Eighth Annual EMEA Customer Conference Draws Record Number of Attendees". 2013-02-07. Retrieved 2016-07-06.
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