Cerebra lands $15M to help companies analyze marketing data

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Early in the epidemic, many enterprises saw their operations digitally transform, with marketing and merchandising departments turning to AI to automate the growing workload. According to Salesforce, marketers’ use of AI increased between 2018 and 2020, rising from 29% in 2018 to 84% in 2020. A separate survey by Zoho’s IT department – ManageEngine, found that marketing for analytics, driven by automation and AI, has seen a 44% increase in adoption over the past two years.

Retail and Consumer Products executives, responding to a recent IBM survey, said they believe intelligent automation capabilities could help boost annual revenue growth by up to 10%. Advertisers in marketing cite benefits such as boosting revenue as well as gaining actionable insights from marketing data. In fact, it is Cerebra’s sales pitch, a platform designed to provide “data-driven direction” to marketing teams by analyzing “external cues” and applying them to companies’ internal data.

Cerebra announced today that it has raised $ 15 million in a series A round led by Notion Capital. Dager Turan, co-founder and CEO, says the financing – which brings Cerebra’s total to $ 16.5 million – will be used to expand Cerebra’s workforce and support R&D efforts.

Marketing automation

The founder of Venture Fund Atomic, based in Turan, San Francisco, California, launched Cerebra in 2018 after a short stint as a software engineer at data analytics company Plantier. It claims that Cerebra’s technology can analyze external and internal data sources, combine them with algorithms and provide insights to advance marketing results based on business goals.

“There are data sources used by Cerebra [that] Consumers believe relative. In addition to internal data sources such as Google Analytics, inventory, returns, transactions, catalogs, customer relationship management data, marketing data, product images and more, we use external data sources that have unstructured data, “Turan told VentureBeat via email.” Includes unstructured data datasets not stored in a structured database format – reviews, social media and more. Cerebra recognizes what resonates with your users, and why, and provides action recommendations about how. [customers] Can create a better product and market it more effectively. “

For example, Turan says, Cerebra can predict the best product stock allocation based on sales forecasts and find out what discounts to offer customers for products that are expected to see a decline in sales. Obviously, the platform can also identify the best performing discounts for each campaign and find unusual return rates – automatically adjusting the “problematic” product descriptions.

“Cerebra’s insights give data and technical teams extra layers of data and context. For organizations with large data science teams, it offers more ammunition to work with them … For companies without data science teams or for smaller companies that are overwhelmed, it allows the business to access the data science team’s output but at an additional cost. Without the need to take. “Ether, the customer still has control over the data and output, and can use it in the best way possible – whether it’s through the Cerebra’s interface or their own existence,” Tura explained.,

From the data it collects, Cerebra seeks to determine which customers are willing to buy and potentially win customers who are at risk of churning. The platform can also create product bundles and promote cross-sales – that is, encourage customers to buy products in addition to the original items they intend to buy – based on customer behavior, product sentiment and price preferences.

“Each insight has a call-to-action and aligned financial impact, allowing our customers to prioritize decisions for maximum impact,” Turan said. “Cerebra tells you what you should focus on and why, so that you can move faster with action than ever before. Can save and earn money during the process. “

Increasing automation

Twenty-three-employee Cerebra, which offers plugins for current ecommerce ecosystems like Shopify, competes with startups such as Constructor, Zhuvu and Clave in the growing marketing and merchandising automation segment. Klevu AI is implemented to help ecommerce merchants deliver search experiences driven by customer behavior. Similarly, the constructor’s AI-powered software aims to address challenges with search tools, including search, autosuggest, browse, recommendations, and collections, and collect data by learning from buyers’ search queries.

Gartner predicts that by 2020 at least 60% of organizations will start using AI for digital commerce. But not every company is so keen. RMG reports that 12% of senior businesses have “no plans” to adopt AI by 2021, due to a lack of expertise to operate pilots, high costs, unorganized data and a lack of understanding of the benefits of AI.

Turan insists that Cerebra is in a good position to overcome the obstacles it faces. Cerebra currently has 80 users and plans to use the funds to increase hiring and R&D as well as customer acquisition.

“Every company is competing for attention and growth. E-commerce is growing faster than ever before. Most companies are really well funded, which makes the bidding battle for attention more and more expensive every day. Giants like Amazon, Sheen and others are winning on the basis of data management, because their retail products are the best, “Tura continued.[With Cerebra,] Everyone in the organization sees the same data in terms of their own role and can act on it with speed. This means enhanced customer lifetime value, more ROI (increase in profitability) than costs, optimized inventory to reduce waste and reduce revenue loss and less waste on non-add-on activities below the line. “

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