Namagoo, prevent customer journey hijacking
Namagoo has raised $69M in total. We talked with Chemi Katz, CEO and Co-founder.
How would you describe Namogoo in a single tweet?
Namogoo’s client-side platform gives online enterprises unprecedented visibility and control over their customer journeys by preventing Customer Journey Hijacking and mitigating user privacy risks, enabling superior digital experiences and business results.
How did it all start and why?
My previous company, Seapai, created an eCommerce aggregator technology for online brands and their products and had over 2.5 million active users. Right around the time we were preparing our exit, I was approached by ad monetization business which essentially wanted to inject ads into our user base. In learning about these ad injections, I discovered how these companies were able to bypass the server-side security of online businesses and exploit a critical flaw they weren’t even aware of.
Right around this time, an investor I was consulting with introduced me to Ohad Greenshpan, who had founded Fashioholic, an award-winning marketing medium for brands and retailers. After performing deep analysis on eCommerce sites, Ohad and I were surprised about the scale of this issue and immediately realized the opportunity to truly disrupt the industry with a solution to an unknown problem.
Customer Journey Hijacking happens when unauthorized ads are injected into consumer browsers. These unsanctioned promotions are injected by digital malware that infects browsers and devices when users install software downloads or program updates, or in other cases when they connect to public WiFi networks. Once digital malware is running on the web browser or device, online consumers are exposed to injected product ads, pop-ups, banners, and in-text redirects when browsing eCommerce sites. Because this malware resides on the consumer’s browser or device, server-side security solutions lack visibility or control over the problem. In short, the e-retailer probably doesn’t even know the problem exists.
This comes at a significant cost to online brands, and it robs them of between 2–5% in annual revenue.
In the digital commerce arena, any interruptions distracting customers away from the intended online experience hurts the ability of businesses to convert and retain site visitors and generate revenue. These brands make huge investments into building a winning customer journey, but at the end of the day, 15–25% of their users are not receiving this experience as it was intended, and instead undergo an experience littered with unauthorized ads that redirect them away from the original site, and possibly even harm brand reputation.
What have you achieved so far?
Our efforts into educating the market on Customer Journey Hijacking have translated into rapid growth due to the incredible demand for our solutions. At present, we have over 100 employees spread between our office in Boston, London, and Israel, and that number is growing fast. Our solutions are proving their worth to the brands that are using them: In H1 2019 alone, online enterprises working with Namogoo have increased online revenues by over $575 million. These types of results have helped Namogoo maintain a near-zero percent churn rate since our founding in 2014.
In 2019, Namogoo has grown its customer base by 150%. Our platform is used by over 150 leading brands in over 38 countries, including Asics, Tumi, Dollar Shave Club, Argos, Office Depot, Build.com, and many others.
What do you plan to achieve in the next 2–3 years?
Working with many of the world’s largest online brands has equipped us with a vast wealth of data-driven insights that have fueled the expansion of Namogoo’s platform offerings to help solve new challenges facing online enterprises.
Over 50% of all code impacting enterprises’ digital experience is not under their control. In addition to unauthorized client-side ad injections, enterprises today are increasingly reliant on 3rd party vendors to improve customer experience and engagement and grow revenues. But these services constantly change and update their code, and can collect sensitive customer data without permission, putting companies at risk of costly data breaches. This rapidly sprawling, diverse, and dynamic ecosystem spells Digital Chaos for today’s online businesses.
Namogoo’s vision is to eliminate what we call “Digital Chaos” for online enterprises by shedding light on any code impacting online enterprises’ digital ecosystem and give them control over their customer journey.
In addition to our pioneering Customer Hijacking Prevention solution, our recently launched Customer Privacy Protection solution detects and mitigates against all user privacy risks associated with 3rd and 4th party vendors running on company websites and applications. By identifying all customer data accessed by 3rd and 4th party vendors, Namogoo empowers online businesses with a new generation of visibility and control over their digital ecosystem, enabling them to deliver superior digital customer experiences and power growth now and in the future.
