“An emerging but potentially radical use of AI” has seen Cooee’s AI software-as-a-service (SaaS) platform – which helps app providers retain customers with personalized notifications – receive £ 300k in pre-seed funding.
Cooee is a deep-tech platform that integrates in minutes with your mobile app / web to deliver unique, data-driven and immersive notifications. The user allows a marketer to create templates without the use of any design tool or software and combine it with machine learning algorithms to deliver one-to-one user engagement.
The low-code platform lets mobile app providers engage with and retain customers with data-driven one-to-one notifications resulting in revenue uplift.
Cooee is an example of ‘creative automation at scale’ – meaning the company uses AI to automate content creation. This is “an emerging but potentially radical use of AI, which has traditionally been used for more repetitive tasks”, the founders state.
The AI, combined with computer vision and machine learning, create unique engagements for each customer in real-time rather than the traditional approach of bucketing different users into finite segments and delivering campaigns on a fixed schedule.
Shwetank Tamer, Cooee’s CEO and founder, said of the opportunity: “Technology advancements have made it possible to create a website or a mobile app in minutes but there were no solutions that allowed brands to deliver data-driven user engagement with automation.
“We created Cooee with a mission to make data-driven user engagement possible, affordable and effective for ecommerce. Customers expect personalization by default but most mobile apps struggle with multiple platforms, skillsets and technology, and thus are unable to engage and delight.
“Just a 5 percent increase in retention can add up to an 80 percent increase in revenue – Cooee makes that happen.
“Rather than companies running ads based on specific products we decided as a creative designer to create the graphic first. Cooee’s algorithm determines the best product and combines it with the right offer to create a real time image and the right time to deliver it uniquely for each individual. ”
Investors include Jenson Funding Partners, plus angel investors from the US, India and UK.
Cooee’s low-code take is built with ease of use in mind, so companies can embed the service within their app in minutes using a simple integration. With every engagement delivered, Cooee continuously learns and improves automatically.
This personalization-as-a-service allows companies big or small to get access to cutting-edge deep-tech at an affordable cost. McKinsey’s Next in Personalization report states the personalization sector “will be the prime driver of marketing success within five years”, worth up to $ 3tn.
Cooee is available on mobile apps, desktop, Woocommerce and Shopify with a roadmap to add Canva, Wix and other ecommerce channels. The company, which is looking to open a Cambridge Science Park office, intends to use the funding for further product development, increase its ecommerce store reach and launch an augmented reality version of the product.
Jeffrey Faustin, chief investment officer at Jenson Funding Partners, said: “Cooee is one of the first companies in this space that I’ve come across to truly put personalization and affordability at the heart of what they do, and that opens up a huge market for them. ”