Lowenstein Sandler represented PeakSpan Capital as lead investor in the $21 million Series A financing of Israeli startup Konnecto, the first artificial consumer intelligence platform that identifies the most impactful vulnerabilities in the full path to purchase, providing unparalleled visibility into the untouched earliest stages of the competitors' consumer journey.
The fundraising also included participation of existing investors TPY Capital, Mindset Ventures, SeedIL, and Differential Ventures. The new funds bring the total capital raised by Konnecto to date to $29 million; they will be used for expansion of the company's activities, including opening offices in New York and recruiting local marketing and sales teams, recruitment of additional personnel in Israel, technological development of the platform, and expansion of its database.
Konnecto works in the field of marketing and sales optimization; its Path-to-Purchase Optimization Platform offers highly targeted recommendations to increase online sales, and enables organizations to understand why buyers chose to buy from competitors, and the points in the on-site shopping campaign where buyers quit. The company's customers, including Coca-Cola, Mercedes-Benz, Lego, MyHeritage, and eToro, receive weekly recommendations for improving marketing activities and increasing sales while reducing marketing expenses. The company reports it has tripled its customer base over the past six months.
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