Leveraging AI to make CRM Marketing great again: EQT Ventures’ investment in Tinyclues’ Series B
Today, Paris-based Tinyclues, the most advanced AI-based CRM marketing software, has announced its $18m Series B, led by EQT Ventures.
The investment was made alongside existing investors Alven, Elaia Partners and ISAI, which are considered some of the best French VC firms.
Proof of EQT Ventures’ increased presence in France, Tinyclues leverages the most prominent French assets (namely, mathematical knowledge, AI talent and big B2C companies) to revolutionise CRM marketing with an AI-first, heuristic-free approach.
- Tinyclues is not a typical ex-industry insider startup, which is often the case in marketing tech. A mathematician by background, David Bessis studied relational databases and graph theory to extract insights from a big data set as early as 2010
- David decided to apply this framework and set of algorithms to CRM marketing. This is an industry where the world’s biggest B2C companies spend billions per year, but is still largely led by marketers’ biases and heuristics, with insights often limited to “we need to advertise more on umbrellas in the winter than in the summer”
- By running its machine learning algorithms on large datasets of transactions on the one hand and catalogue on the other hand, Tinyclues’ software finds those “tiny clues” to predict the probability of any customer buying any SKU at any point in time. By doing so, Tinyclues creates customer segments with much better ROI (up to +250% revenue uplifts on certain campaigns) for its clients’ customer reactivation campaigns
- We, at EQT Ventures, are convinced that the recent surge of interest in AI — even though David and his team have been working on this technology for the past seven years — is a great way to add an intelligence layer on top of existing systems of records (in this case, a CRM and a PIM) and workflow apps (here, campaign managers like emailing software or social media ads managers). We believe that this is where the real value is. Tinyclues enables big B2C companies to understand their customers even better, and waste less money on marketing, while preserving their customers’ time and attention
Tinyclues’ remarkable sales team has been able to convince top retailers in France (four out of five top eCommerce websites in France use Tinyclues) of the technology’s value, and EQT Ventures is delighted to be able to support this company in its growth initiatives in other European countries and the US!
