Israeli startup Revuze, which provides Artificial Intelligence (AI) to both brand and product management, has closed a $4 million seed-funding round led by strategic investors Nielsen, The NPD Group, and TIC Group. Revuze is also entering into business development partnerships to introduce its transformative AI-led technology to its investors' customers. Headquartered in Netanya, Revuze will use this investment, to expand US operations and open offices in San Francisco and New York City.
Revuze uses AI, powered by neural networks and machine learning, to empower the brand and product management industries that previously have relied on manually intensive solutions, such as text analytics, social listening and monitoring. These current solutions, requiring months to execute, demand teams of product experts, data scientists and analysts to construct and maintain rules, dictionaries and taxonomies before interpreting the findings. This process is slow, expensive, inefficient and easily skewed by misunderstanding or misinterpretation. Revuze removes these limitations, directly addressing the biases and other shortcomings of those managing such extreme volumes of data.
Revuze CEO and cofounder Ido Ramati said, "Global brands have told us that this is a game changer for managing their brand health. They are now able to make the kind of key business decisions and utilize data from such varied sources in ways that before were not possible. Through our introduction of AI into this field, brands can now gain an immediate, granular understanding of what customers are saying about their brand, product or competitors, without having to hire teams of experts."
Revuze is powering global Product Experience Management initiatives for Fortune 500 companies in CPG, food service, leisure and manufacturing. Companies use Revuze for fine tuning customer experience, marketing, product development, business intelligence, business operations, customer service and sales management.
"Revuze is transforming the way that companies track their corporate and product brands through the introduction of AI," said John Burbank, President, Strategic Initiatives, at Nielsen. "Now, they can easily gain detailed market and consumer intelligence, which enables them to be far more responsive to consumer perception and feedback."
the company was founded by Ramati, CTO Eyal Starssburg and CMO and VP Biz Dev Yair Almagor.
Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2016
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