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Ocurate Raises $3.5M To Show Customer Lifetime Value For B2C Companies

Dec 22, 2021over 3 years ago

Amount Raised

$3.5 Million

Round Type

seed

Artificial IntelligenceData And AnalyticsSoftware

Description

Ocurate, a startup using artificial intelligence to predict customer lifetime value for e-commerce businesses, took in an oversubscribed seed round of $3.5 million.

Company Information

Company

Ocurate

About

Tamim Mourad, co-founder of eSalon, an e-commerce site for hair color, said that for years the company tried to build its own lifetime value model to be better at prediction, but didn’t have a data science team. With Ocurate, it can now build more accurate predictive models to better target and segment clients, and understand where the company sits historically. Next up, the company intends to raise another round in the second quarter of 2023, and Konitzer said Ocurate is on target to have 20 customers by the end of next year. Meanwhile, the new funding will enable Ocurate to get its product out to the public in 2022, double its team from seven employees to 14 and further invest in integrations, data science and machine learning capabilities.

FundzWatch™ Score

83
Medium Activity

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