Persuasion-as-a-Service startup Crobox Raises $1.2M seed round
Crobox, an Amsterdam based company which combines consumer psychology with machine-learning to influence (purchase) decisions, announced today it has raised a $1.25 million funding round led by Keadyn, with participation from Ventech (Paris) and a number of angel investors.
“Crobox has a highly talented interdisciplinary team which managed to merge the power of entrepreneurship, computer science and human behavior. Their uniquely blended technology results in an industry leading marketing message optimization, that will even perform better over time due to its machine learning capabilities.”
Currently, the company serves over 20 global customers with Rakuten, T-Mobile and Under Armour amongst them.
"Under Armour has an ambitious plan for online growth in Europe. With the persuasion analytics technology from Crobox, we know better how to communicate across cultures and convert our audience to loyal fans of our brand."
The platform delivers a blend of notifications, micro-copy and product tags all based on pre-defined emotional triggers. A library with more than 200+ different psychological triggers helps the customer experiment with a multitude of tactics to optimise their messaging across segments.
“More than 95% of the daily decisions you make, are driven by the subconscious mind. People think they make a decision on a rational basis, but in fact it is driven by emotional triggers. Crobox has built a data-driven Persuasion Framework in order to help global eCommerce brands to drive those purchase decisions and provide unique consumer insights through their persuasion profiling engine. By making use of machine learning, the technology knows exactly which persuasion tactic does, and doesn’t, work for every individual.”
The team of 20 consists of a unique mix of developers, data scientists and psychologists. The company says it will use today’s funding round to continue expanding the breadth and capabilities of its platform and expand in other countries.
"The platform of Crobox has shown awesome traction after it was launched last year. More importantly Crobox has an experienced and great team with the ambition and ability to build the leading player in this space. We are proud to be able to contribute to the further roll out and international expansion of Crobox."
Ton van 't Noordende
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Keadyn is a Dutch-based seed/early stage investment company, with offices in Amsterdam and Rotterdam. They are set to disrupt the venture capital ecosystem, driven by the strong belief that the days of traditional investing are over.
Keadyn takes on a radical new approach towards venture investing by not working for the money, as traditional funds do, but with the money. Keadyn has a passionate entrepreneurial culture and is looking to invest + add value to early-stage startups with great teams that act lean, think big and move fast. Keadyn was the first investor in Rocket Internet’s Nestpick and current investments include Bird Control Group & Notifica.re and Otrium. Focus areas include marketplaces, ecommerce and fintech. Keadyn works with a global talent pool of experts that add value to the ventures they invest in.
Keadyn sees big opportunities in Europe, with the Netherlands as a key entry point and 'the rest of the world for scale’.