Convizit, a Tel Aviv and Jerusalem, Israel-based startup applying AI technologies to the product analytics market, closed a $5M seed funding round.
The round was led by Pitango Venture Capital, with the participation of earlier investor Jumpspeed Ventures. In conjunction with the funding, Gad Huldai, Partner at Pitango’s Early Stage fund, has joined Convizit’s board of directors.
The funds will be used to double the size of the team, accelerate product research and development, and launch sales and marketing activities.
Led by Daniel Bashari, CEO, Convizit provides visibility into user journey patterns, with no need to first figure out what questions to ask or what directions to investigate.
The company’s AI technologies ensure that every user action on every page is captured, named and enriched with a high degree of structured context detail, automatically. With the platform, product teams don’t need to pre-select, code, name or tag events to track, no matter how often a website changes.
Its first offering, already in use by a number of large e-retailers, is a DaaS solution that delivers complete behavioral data. This pre-tagged, context-rich data is ready for immediate use by data-driven enterprises to improve the value of their existing systems, such as analytics, BI, A/B testing, marketing automation and personalization. This data also enables data scientists to achieve funnel analysis, friction point identification, correlation/anomaly detection, user journey visualization and insight generation.