Global data-backed marketing giant Kenshoo announced its intent to acquire Israeli startup Signals Analytics, a provider of AI-powered analytics for market intelligence. The acquisition’s financials have yet to reported but estimated in the millions.
The acquisition adds to Kenshoo’s efforts to help brands face the challenges that the ongoing COVID-19 pandemic has posed in how best to catch up with accelerated e-commerce adoption and be best positioned to understand, engage and transact with consumers regardless of channel.
"Smarter, faster go-to-market decisions in the current, highly dynamic digital commerce era.”
With the acceleration of the digitization landscape, brands are finding it difficult to properly engage their with consumer base. This is leading to an urgent need for smart marketing tools to successfully maneuver the changing eCommerce industry, which has seen major increase in global adoption.
Brands face the need to rapidly transform engagement from mostly brick-and-mortar stores to primarily digital shopping in order to remain competitive. By deploying an AI-powered platform that connects internal and external data sets to surface insights across the entire marketing value chain, Kenshoo aims to empower enterprise clients to make stronger predictions and unleash their growth potential.
“Given the exponential growth we are experiencing in performance marketing, specifically around e-commerce, Kenshoo sees firsthand how brands make decisions to bring products to market online,” said Kenshoo CEO and Co-Founder Yoav Izhar-Prato. “The channel discussion is changing from media platforms to distribution types—Direct-to-Consumer or Retail—and we are relied upon to support those decisions. We looked for a powerful platform that best captured holistic consumer and market insights by connecting external data sets layered with cutting-edge, advanced analytics capabilities, and we found both in Signals Analytics. With a proven record in curating and augmenting external data and utilizing unique assets in AI/ML to infuse decisions with relevant, actionable insights for very prestigious brands, the team wowed us.”
Immediately, the companies’ combined assets create a connected marketing intelligence across brand, consumer, product, campaign, publisher, and market data silos. This enables consumer insights and analytics teams to streamline trend analysis in order to identify white space opportunities, provide marketers the ability to build more effective strategic plans, and give social, retail and publisher partners access to broader cross-channel intelligence to generate value.
“Signals Analytics was founded on the premise that more sound, timely market intelligence could improve business outcomes as a critical bridge to fast-moving customers,” said Gil Sadeh, Signals Analytics Co-Founder and CEO. “We saw how to get there by extracting available market signals from the noise that were often missed given the sheer volume of data constantly generated online. By connecting these signals in a robust, configurable data fabric using patented AI and natural language processing, we have helped some of the world’s most discernible consumer brands accelerate product innovation, improve launch metrics, support marketing teams and ultimately drive growth. Joining forces with Kenshoo means we can advance our collective mission of enabling smarter, faster go-to-market decisions in the current, highly dynamic digital commerce era.”
Kenshoo was founded in 2006 by CEO Yoav Izhar-Prato, CTO Nir Cohen, and CSO Alon Sheafer. The company is based in Tel Aviv and has raised over $50 million, backed by leading VCs such as Sequoia, Bain Capital Ventures, among others. Signals Analytics was founded in 2009 by CEO Gil Sadeh and Chief Research Officer Kobi Gershoni. The company’s headquarters are based in New York and have an impressive roster of partnering global brands including Procter & Gamble, Nestle, Johnson & Johnson, Bayer, Roche, Mars and others.