Israeli startup Convizit, a company applying AI technologies to disrupt the product analytics market, announced on Wednesday that it raised $5 million in seed funding. The round was led by Pitango Early Stage, with the participation of earlier investor Jumpspeed Ventures.
Convizit said the funds will be used to double the size of the team, accelerate product R&D, and launch sales and marketing activities.
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Founded in 2017, Convizit collects deep-level analytics data on user behavior and processes it into clear insights so clients can make data-driven decisions without resorting to expensive solutions.
“Convizit’s terrific team is truly revolutionizing how user behavior data is collected, structured and analyzed,” said Gad Huldai, Partner at Pitango’s Early Stage fund, who has joined Convizit’s board of directors. “We have been extremely impressed to see how quickly and effectively the team has progressed since we first met them, in terms of both technology and business.”
“We are very pleased to have Pitango participating in our mission to disrupt one of the oldest and largest Internet arenas,” said Daniel Bashari, Convizit’s CEO and co-founder. “Gad Huldai and the rest of Pitango’s excellent early-stage team have already proven to be extremely valuable partners, and we look forward to a long and rewarding relationship working with them and with our initial investor, Ben Wiener of Jumpspeed Ventures.”