Customer engagement hub startup ZineOne has raised $2.5 million in a Series A round led by Omidyar Network & others. Other investors include Harvard Business School Alumni Angels, Touchstone Equities, as well as existing investors Hyderabad Angels and Golden Seeds.
With this new funding, ZineOne is well positioned to lead the market in this emerging sector. The company intends to aggressively accelerate sales, marketing, and execution of a product roadmap.
Anthill Ventures was an advisor to this round. The Series A round of investments brings ZineOne’s total venture capital received to date to $5 million.
ZineOne is a real-time, stream-processing based customer engagement hub. It empowers brands and enterprises to enable a paradigm shift in the way they interact with their customers. It helps the enterprise move from a legacy batch world to a real-time, event-driven world, where reactions to each customer’s actions are sub-second versus a long phone call or an impersonal email. ZineOne is set to disrupt the worldwide $10 billion marketing automation and customer experience markets.
“More and more enterprises around the world are recognizing the need to move their customer engagement efforts beyond e-mails and call centers into an immediate, contextual, and real-time world,” said Debjani Deb, ZineOne CEO.
The emerging category of customer engagement hubs is expected to disrupt the market by moving the industry away from batch emails, push messaging, and call centers, to “in the moment” interactions.
“We are excited to see how artificial intelligence, machine learning, and other new technologies are coming together to personalize and enhance the consumer experience,” said Ken Miller, venture partner at Omidyar Network and ZineOne’s newest board member.
Zineone Operation-
ZineOne currently enables more than 100 million users, processing over 5 billion events a year, and generating 100 gigabyte of data every hour worldwide. In the US, the company works with one of the top five retailers in the country, connecting all its digital and physical channels and delivering three to five times more sales conversions through highly personalized, contextual messaging with customers through various touch points.
In India, ZineOne is enabling financial institutions to provide a seamless digital experience to their customers by using personalized context to nudge consumers to better financial behaviors, such as increasing savings.
On average, the company has helped its client-banks increase transaction completion rates up to 20 percent capturing transactions that were previously abandoned when users moved from channel to channel. HDFC Bank, India’s largest private bank, is leveraging ZineOne’s value proposition across all its digital channels and experiencing significant gains in customer engagement, including 3 times the click-through rate than with traditional methods.