AI-Powered Personalization Platform Secures Significant Funding
In a funding round headed by Accel, Bengaluru-based firm Tibr has successfully raised $518 million. Additionally, 2am VC and angel investors participated in the round, among them being Kunal Shah, the founder of Cred.
Tibr to Expand AI Capabilities and Customer Base
The company plans to utilize the fresh capital to enhance its AI personalization platform, expand its customer base, and bolster its talent pool. Tibr aims to hire engineers, product marketers, sales, and go-to-market (GTM) experts to drive growth.
What is Personalization Platform?
A personalization platform empowers businesses to create tailored experiences for their customers. By analyzing user preferences and behavior, these platforms deliver customized content and marketing messages.
Tibr’s Flagship Product: Pikx
Founded in January 2023 by Ankun Goyal and Priyam Vohra, Tibr’s flagship product, Pikx, focuses on improving conversions by generating personalized landing pages for every ad, email, social media post, and notification.
Addressing the Personalization Gap
Tibr aims to differentiate itself from competitors by offering a comprehensive personalization solution. The company believes that many existing tools focus on specific channels like web, ads, or email, neglecting a holistic approach. Tibr’s platform takes a broader view, delivering truly personalized experiences.
Targeting Key Markets
Tibr is currently targeting customers in the insurance, broadband, home improvement, and consumer services sectors. The company is primarily focused on the US market but also sees potential in Canada, India, and Europe. Tibr’s alignment with the stringent General Data Protection Regulation (GDPR) makes Europe an attractive market for its privacy-focused approach.
Expanding Product Offerings
In addition to Pikx, Tibr is developing a second product called Blocks. This AI-powered tool will help marketers create various content formats, such as converting a high-performing Facebook ad into a blog post, Google ad, or social media post.
Investor Confidence in Tibr’s Vision
Accel’s Prayank Sood believes that Tibr’s personalized landing page technology has the potential to disrupt the advertising industry. With increasing customer acquisition costs (CAC) due to privacy regulations and cookie deprecation, Tibr’s pay-per-usage model offers an attractive solution for marketers.
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