LONDON, May 10, 2018 /PRNewswire/ --
Marketing drives 50 percent of investment in rush to consolidate AI market
The global rush to dominate the Artificial Intelligence (AI) market is heating up with Merger and Acquisition (M&A) activity in AI doubling over the past two years. Half of investment in AI is driven by marketing teams as the desire to consolidate shows the growing maturity of the martech market.
The buyer universe is expanding beyond the big tech players, with widely-watched AI innovator Optimove the latest to announce an acquisition. Having received $20 million in funding, the relationship-marketing company is one of the hottest firms to hit the global market from Israel's burgeoning AI-scene. Optimove has now announced the acquisition of DynamicMail from PowerInbox, a leader in real-time email personalisation.
The pace of acquisitions in the martech market is a sign of the powerful demand amongst consumer-facing businesses for AI-powered solutions that help them reach out to each customer personally. Personalised emails can already deliver as much as 50 percent more engagement, and there is a huge link between AI and the revolution to make content more dynamic.
The 300 brands that use Optimove's science-first relationship marketing hub have around 500 million consumers in the UK and Europe. Last year, these brands sent over 3 billion personalised emails to their customers. With PowerInbox's dynamic email technology at their fingertips, these brands will now be able to create dynamic content which changes in real-time to be most relevant at the time of opening.
For example, the technology excludes products that are not currently in stock, or creates product recommendations specific to weather conditions at the reader's current location. PowerInbox's email components also enable additional highly engaging content, such as video, countdown timers, store locators and carousels.
Pini Yakuel, CEO and Co-Founder of Optimove, comments: "The first real digital marketing tool, email is still one of the most effective platforms in relationship marketing. That said, there is a huge opportunity to bring the type of personalisation and interaction available in other channels to the inbox.
"The acquisition of DynamicMail strengthens Optimove's existing email capabilities and provides advanced email solutions for smart marketing teams."
PowerInbox developed DynamicMail to automatically transform static email HTMLs into dynamic, interactive content so recipients get emails that are updated for relevancy in real-time when opened. These capabilities will enhance Optimove's existing email product, Optimail. Current and new users of Optimove will have access to these features.
Optimove's acquisition of DynamicMail underscores the company's commitment to offering smart marketers everything they need to take a scientific approach to relationship marketing.
Pini comments: "By acquiring DynamicMail, Optimove provides a unique complement of solutions in email products and features. It is additional acceleration to the already existing momentum of the company's growth, and shows how this market is heating up as demand continues to build."
Optimove the Science-first Relationship Marketing Hub, used by over 300 customer-centric businesses to drive measurable growth by scaling customer engagement. Optimove combines the art of marketing with science of data to autonomously generate actionable insight, empowering marketers to deliver highly-effective personalized customer marketing campaigns across multiple channels. The company's unique technology suite helps marketers maximize customer spend, engagement, retention and lifetime value. Optimove is used by brands of all sizes, including Stitch Fix, Glossier, Family Dollar, Deezer, Adore Me, eBags, Go Compare, and many others. With over 180 employees in New York, London and Tel Aviv, the company's revenue has grown 60% during the past year. More information is available at http://www.optimove.com.