JERUSALEM (Reuters) - Dynamic Yield, a company that designed a digital platform to help online marketers, has raised $31 million in a investment round that included Deutsche Telekom Capital Partners, Deutsche Telekom’s (DTEGn.DE) investment management group.
Other investors included La Maison, Baidu (BIDU.O), Bessemer Venture Partners and Israel’s Claltech, Dynamic Yield said on Thursday.
The new funds will be used to expand the company’s service to new industries, further invest in machine learning and artificial intelligence and improve market share in an $800 billion industry.
The New York-based company, founded by Israelis with a research and development office in Israel, says it has developed a machine learning engine that enables marketers to increase revenue via personalisation, recommendations, automatic optimization.
It has over 100 enterprise clients, including Sephora and the Liverpool Football Club.
(This version of the story was refiled to add Capital Partners to headline)
Reporting by Ari Rabinovitch; Editing by Tova Cohen