Israeli tech startup Namogoo secures $40M to prevent customer journey jijacking and protect user privacy
Namogoo, a Herzliya, Tel Aviv, Israel-base startup that protects the customer journey and user privacy for online enterprises, has secured $40 million Series C funding to further expand Namogoo’s client-side platform offerings—starting with the launch of its Customer Privacy Protection solution.
The round was led by Oak HC/FT. Matt Streisfeld, Partner at Oak HC/FT, will join Namogoo’s Board of Directors. Existing investors GreatPoint Ventures, Blumberg Capital, with participation from Hanaco Ventures. The latest capital infusion brings the the startup’s total funding to $69 million.
Founded in 2014 by Chemi Katz and Ohad Greenshpan, Namogoo is pioneering the market of Customer Hijacking Prevention. Namogoo’s disruptive technology identifies and blocks unauthorized ads injected into consumer web sessions that divert customers to competitor offerings, hurting conversion rates and damaging brand equity.
By eliminating these invasive promotions, Namogoo consistently recovers eCommerce revenue; companies who use Namogoo report an immediate conversion uplift, and are able to win back more than 90% of their stolen revenue. The world’s largest retailers rely on Namogoo’s proprietary Artificial Intelligence solutions to eliminate invasive promotions, preserve the online customer experience, and consistently recover e-commerce revenue.
Namogoo’s cloud-based service, built on proprietary, Machine Learning technology, detects and blocks invasive content spread across eCommerce sites. Namogoo takes a whole new angle to preserving the customer journey: Namogoo’s learning technology monitors and analyzes millions of web sessions from the server all the way to customer browsers – and based on pattern analysis techniques – classifies web activity and prevents it from running. Namogoo’s proactive core engine leverages thousands of data points related to deep content inspection, statistical analysis, and indicative behavioral patterns in order to reach decisions.
The funding will also be used to further expand Namogoo’s client-side platform offerings—starting with the launch of its Customer Privacy Protection solution. The solution detects and mitigates against customer privacy risks associated with 3rd- and 4th-party vendors running on company websites and applications.
“Since its founding in 2014, Namogoo has made a significant mark within the eCommerce industry by helping Fortune 500 brands win back stolen online revenue and gain control of their customer experience,” said Oak HC/FT Partner Matt Streisfeld. “Namogoo’s platform is essential for any enterprise serving consumers online, and we’re looking forward to supporting the company as they maintain their momentum and scale to the next level.”
Over the past year, Namogoo has grown its customer base by 150 percent. The company’s platform is used by more than 150 leading global brands in over 38 countries, including Tumi, Asics, Argos, Dollar Shave Club, Tailored Brands, Upwork, and others. In the first half of 2019 alone, Namogoo has enabled its clients to recoup more than $575 million in online revenue.
To support its growing roster of clients, Namogoo has expanded its staff in Boston and Israel and opened an office in London. Namogoo has also expanded its Partner Program, which includes technology leaders Microsoft, SAP, and Salesforce, amongst others.
“With businesses investing more than ever in technologies to optimize their website, improve functionality, and tailor their users’ experience, ensuring that these digital investments are delivered as intended and free of risks and disruptions has never been more challenging,” said Chemi Katz, Co-Founder and CEO of Namogoo.
“This significant financing round enables us to further invest in the growth of our global team and expand to new markets and geographies, helping us fulfill our vision of eliminating Digital Chaos and providing enterprises unprecedented control of their digital properties.”