SAP.iO Fund invests in Isreali big data and consumer analytics startup Revuze
We first wrote about SAP.iO Fund in January when the software giant SAP launches the No Boundaries initiative to fund and incubate startups led by women and minorities. Now, the SAP.iO Fund is investing in Israeli-based SaaS analytics startup Revuze.
Today, Revuze, a startup that offers a product experience management cloud based solution for consumer brands, today announced it has received investment from the SAP.iO Fund made an investment in the company, as part of a funding round that included existing and new investors. The total amount of funding was not disclosed. The funding comes on the heels of fast international adoption of the Revuze solution across multiple industries and geographies, from China to US and Europe.
Revuze was founded in 2013 by Eyal Strassburg, Ido Ramati, and Yair Almagor. It’s the first provider of SaaS based self-service consumer product feedback analytics solution. It was founded with a vision of finding the “wisdom of reviews,” aiding e-Commerce sites by providing stellar insights about products and customers, thus increasing their conversion rate and repeat customers.
Backed by investors such as the SAP.iO Fund, Nielsen and NPD, TIC Group and Prytek, Revuze transforms how brands consume CX insights so they can make better decisions, faster across every role in the organization. While other solutions rely heavily on experts and manual labor, the Revuze solution is up and running without professional resources. The unique self-learning AI technology understands consumer intent regardless of choice of words, feedback channel or language.
Revuze’s artificial intelligence solution is the first in the market to transform how brands consume customer experience (CX) insights. While other solutions are typically requiring experts and manual labor to deliver insights, while being limited to specific feedback channels like Social Media or Surveys, Revuze allows any role in the organization to gain deep insights from any data sources and without any manual labor or experts involved. With Revuze organizations distribute decision making, making better decisions, faster across the board.
“Brands today live in a fast moving, competitive environment where they need to react quickly to customer expectations and competitive threats”, said Dr. Ram Jambunathan, SVP & Managing Director of the SAP.iO. “But today, it can take months for brands to respond to changing customer expectations, because the brands lack capabilities to quickly decipher new trends and respond to them. With Revuze, brands can make data-driven decisions and take action in just days. This aligns well with SAP’s unique ability to connect and align customer experiential feedback with enterprise operations.
Revuze recently announced that Dolby, the leader in audio and video technologies, is leveraging Revuze to understand Mobile consumer preferences when consuming audio and video.
“Revuze shares SAP vision of connecting brands to their customers across every role so they can outperform in their markets, from marketing to selling to retaining customers” said Boaz Grinvald, CEO of Revuze. “With Revuze offering the first self-service, holistic CX Analytics solution, and making it affordable, we empower any brand to transform its operations quickly and easily. We’re very excited to partner with SAP and look to accelerate our growth together through a range of joint activities”