SAN FRANCISCO and NETANYA, Israel, Aug. 31, 2016 /PRNewswire/ -- Today, Revuze, the first company to bring Artificial Intelligence (AI) to both brand and product management, is announcing a $4 million seed-funding round led by strategic investors Nielsen, The NPD Group, and TIC Group. Revuze is also entering into business development partnerships to introduce its transformative AI-led technology to its investors' customers. On the back of this investment, the company is expanding its U.S. operations by opening offices in San Francisco and New York City.
Revuze uses AI, powered by neural networks and machine learning, to empower the brand and product management industries that previously have relied on manually intensive solutions, such as text analytics, social listening and monitoring. These current solutions, requiring months to execute, demand teams of product experts, data scientists and analysts to construct and maintain rules, dictionaries and taxonomies before interpreting the findings. This process is slow, expensive, inefficient and easily skewed by misunderstanding or misinterpretation. Revuze removes these limitations, directly addressing the biases and other shortcomings of those managing such extreme volumes of data.
With a simple one-time Q&A session – and without the need to pre-define a single keyword, rule, topic or sentiment value – a junior employee in days can arrange to have Revuze deliver the most nuanced information available. The data is delivered, via a single screen, about consumers and their needs, across thousands of internal and external data sources, on any given product family. Revuze has created and is widely introducing its technology available for Product Experience Management, enabling brands to quickly understand product and customer satisfaction issues, and to automatically score and rank the brand's performance, both relative to its competitors and to the market as a whole.
"Global brands have told us that this is a game changer for managing their brand health," said Revuze Co-Founder and CEO Ido Ramati. "They are now able to make the kind of key business decisions and utilize data from such varied sources in ways that before were not possible. Through our introduction of AI into this field, brands can now gain an immediate, granular understanding of what customers are saying about their brand, product or competitors, without having to hire teams of experts."
Revuze is powering global Product Experience Management initiatives for Fortune 500 companies in CPG, food service, leisure and manufacturing. Companies use Revuze for fine tuning customer experience, marketing, product development, business intelligence, business operations, customer service and sales management.
"Revuze is transforming the way that companies track their corporate and product brands through the introduction of AI," said John Burbank, President, Strategic Initiatives, at Nielsen. "Now, they can easily gain detailed market and consumer intelligence, which enables them to be far more responsive to consumer perception and feedback."
"The NPD Group is always looking for innovative solutions, and we are impressed with Revuze," said Steve Coffey, Chief Innovation Officer of The NPD Group. "Revuze is providing a compelling new way to analyze consumer information, making it possible to break down consumer attitudes with much greater accuracy and detail. That's why we have invested in the company and are taking the extra step of introducing them to our clients."
Revuze is the AI-powered product experience analyst solution that delivers the most nuanced information about consumers and their needs. The combination of AI, neural networks and machine learning provides immediate, in-depth, ongoing feedback to companies about how their products and services are bought, experienced and viewed. Revuze has created and is widely introducing its technology available for Product Experience Management, and is currently being used by Fortune 500 companies across the CPG, food service, leisure and manufacturing sectors.
Revuze is a venture-backed company with investors that include Nielsen, The NPD Group and TIC Group. The company is headquartered in Netanya, Israel, with U.S. operations in San Francisco, and New York City.
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Consort Partners for Revuze