U.S.-based Logiq Inc. (formerly Weyland Tech), a provider of eCommerce and Fintech solutions, announced the completion of its acquisition of Israeli startup Fixel AI, which develops AI-powered digital Martech solutions. The acquisition details have yet to released, but based on reports the exit amounts in the millions of dollars range. The acquisition of Fixel advances Logiq’s goal of adding simplified marketing and critical privacy features to its AI-powered consumer intent engine designed for brands and premium publishers.
Optimizing first-part data by intent to buy
With the third-party cookies landscape experiencing significant privacy changes, heavily impacting the online marketing sphere, Fixel claims to offer an optimal solution for marketers to align with the new regulations. Many marketers still use vendors who rely on third-party cookies to understand shopping behavior on and off their site. However, new internet privacy rules, like those being promulgated by California’s Consumer Privacy Act (CCPA), are making this practice increasingly risky and less viable. For example, major web browsers like Safari and Firefox have ceased all third-party cookies, and Google Chrome vowed to end third-party tracing by 2022.
“The marketing and advertising industry is headed for a perfect storm created by these new privacy restrictions and a post-COVID-19 world,” noted Fixel co-founder and CEO, Etgar Shpivak, who will head up Logiq’s new Fixel unit. “As Google and Apple increasingly restrict access to users, and with the pandemic driving more online website traffic but from visitors without any true buying intent, companies are being forced to find better ways to maximize their return on ad spend.”
Fixel AI’s platform leverages AI to collect strictly first-party data and help marketers comply with privacy regulations like CCPA in real-time. Fixel’s proprietary technology automates marketing processes and analyzes user interactions in real-time on an eCommerce or brand website. Its automatic scoring system helps marketing teams identify audiences with high purchase intent even when this is not readily revealed by their on-site activity, like simply adding an item to a cart.
“Fixel empowers marketing teams to optimize their campaigns in a customized way unlike any other marketing segmentation and retargeting solution on the market today,” stated Logiq CEO, Tom Furukawa. “This unique technology greatly complements and enhances our Logiq AI-powered consumer intent engine, which captures and directs consumers from multiple sources who are in the market to purchase a particular product or service. We have begun to introduce Fixel to our customer base of enterprises and major brands, and are already seeing a strong positive response.”
According to Fixel, its platform identifies the most engaged visitors with the highest purchase intent. This results in marketers targeting strong leads rather than wasting budget on low-quality traffic. Marketers can build effective retargeting campaigns focused on the visitors with the highest intent for making a purchase, create personalized and more engaging messaging, and buy media more effectively.
Ehud Basis, who heads up growth marketing at Outbrain commented on Fixel’s added value to the market: “Fixel enables us to pinpoint our targeting and focus our marketing spend on the most engaged users across our Outbrain network, as well as with our presence on Facebook, Google and other sites. It’s amazing how it automatically identifies people with the highest probability of making a purchase. We can then focus on them specifically, saving considerable resources and time.
Fixel was founded in 2017 by brothers CEO Etgar Shpivak and CTO Hadar Shpivak, as well as Head of Growth & Product Elad Levy. The company is based in Tel Aviv and has previously taken part in ICONYC and TechStars accelerator programs. Last year, Fixel raised an unknown sum from Right Side Capital Management, Intango Ventures, and Chicago Early Growth.