UK-based marketing technology developer Yieldify closed an $11.5m series A round co-led by Google Ventures and SoftBank Capital, the respective corporate venturing units of internet company Google and telecommunications firm SoftBank, today.
Yieldify will use part of the capital to build out its predictive marketing technology, which aims to help online marketers convert visitors and brands create specialised advertising campaigns.
The company, which was founded in 2013, also intends to “rapidly expand” in overseas markets, and plans to increase the size of its 120-strong team across its London, New York, Berlin and Sydney offices.
Avid Larizadeh Duggan, general partner at Google Ventures, explained: “Traditional customer abandonment solutions still haven’t cracked the code to retaining and converting online visitors on the web and mobile.
“Yieldify takes a novel approach to converting visitors into customers, enabling marketers to adapt and better understand online customer intent.”
Yieldify previously received seed funding from venture capital firm Hoxton Ventures in 2014.