Series B Funding, Speed to Sense™ and Recognition in Gartner’s 2020 Magic Quadrant for Personalization Engines Caps Growth Year for Predictive Engagement Leader
Milpitas, CA, Oct. 19, 2020 – ZineOne, the leader in predictive engagement, continues its rapid growth with success on several fronts. The company provides businesses a next generation capability to provide consumers hyper-personalized digital experiences through its Intelligent Customer Engagement (ICE) platform. The ICE platform offers enterprise brands a powerful and efficient way to motivate consumers to engage in many different real-time actions that are immediate, relevant, and lead to a desired outcome for both the brand and the consumer.
Series B Funding
Recently, ZineOne raised $10 million in series B funding. Norwest Venture Partners led the round and was joined by existing investor Flourish Ventures. The investment brings the total funds raised by ZineOne to $15 million since its inception in 2014. The company continues to exhibit strong growth year over year. The funding announcement follows the company’s recognition in the 2020 Gartner Magic Quadrant for Personalization Engines and it’s breakthrough technology Speed to Sense™.
“The importance of hyper-personalized engagement by today’s demanding consumers make it a critical space for ZineOne to deliver near-instant predictive engagement. This is why we are pleased to invest in ZineOne,” said Promod Haque, Senior Managing Partner, Norwest Venture Partners.
With an initial focus on the retail, quick service restaurant (QSR), and banking industries, ZineOne enables brands with predictive engagement to provide consumers with relevant, timely, and helpful experiences. The new funding will be invested in the continued growth of its customer base, research and development activities by the ZineOne Innovation Lab, and to aggressively build out its geographic footprint.
Speed to Sense™
Created in response to changing consumer shopping behavior due to the pandemic, Speed to Sense™ is a new predictive capability inside the ZineOne ICE platform. Developed by ZineOne and deployed at global financial services firms and leading retailers, the breakthrough uses short-term data analytics to help major retailers boost conversion rates up to 50% while maintaining up to a 90+% predictive accuracy. Compared to the pre-COVID-19 conversion rates of 3%, these gains in conversion rates are a significant boon for the retail, QSR, and banking industries.
Gartner Magic Quadrant
This year, ZineOne debuted in Gartner’s 2020 Magic Quadrant for Personalization Engines. In the 2020 report, Gartner identified the 13 personalization engine providers and evaluated them on 15 different criteria. Gartner recognized ZineOne for its Completeness of Vision and Ability to Execute. This is ZineOne’s first recognition in the Magic Quadrant for Personalization Engines and the company was previously recognized in the May 2018 Cool Vendors in CRM Customer Service and Support report1.
“As the digital ecosystem continues to expand, we are doubling down on our commitment to delivering new tools and technologies via our Intelligent Consumer Engagement platform to allow brands to build engaging experiences, improve customer loyalty and capture greater value,” says Debani Deb, CEO and co-founder of ZineOne. “In just one visit to a website, consumers may engage in a variety of different ways, across different devices, channels, and locations. Whether they are shopping for groceries, applying for a loan, or pumping gas, we provide brands an efficient and powerful way to engage with them to complete a desired outcome.”
ZineOne’s Intelligent Customer Engagement platform enables enterprises to understand their consumers and respond to them with in-the-moment, relevant 1:1 engagement. ZineOne’s next generation platform has positioned the company as a leading predictive engagement provider delivering about 1 billion dollars in new revenue for its customers. The patent-pending platform and its continuously learning models provide predictive insights into each and every visitor across digital and physical channels while delivering intelligent customer experiences in critical moments to delight customers, foster loyalty, and increase revenues.
About Norwest Venture Partners
Norwest is a leading venture and growth equity investment firm managing more than $9.5 billion in capital. Since our inception, we have invested in more than 600 companies and partners with over 150 active companies currently in our venture and growth equity portfolio. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. We offer a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel.
1 Gartner, Magic Quadrant for Personalization Engines, Jennifer Polk, et al, 13 July 2020
Gartner, and Cool Vendors in CRM Customer Service and Support, Jim Robinson, et al, 08 May 2018. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.