Israel’s Zoomin raises $14 million series B
"Companies are seeking any way possible to retain their clients and offer them a personalized experience,” said Zoomin’s co-founder and CEO Gal Oron
Tel Aviv-based Zoomin Software Inc. announced Wednesday that it had completed a $14 million series B funding round, bringing its total capital raised to $21 million. Bessemer Venture Partners, Viola Growth, and Salesforce’s investment arm all took part in the round.
Zoomin developed a platform to improve end-user access and personalization of product answers, which is already in use by companies such as McAfee, Mastercard, and Dell. Zoomin’s platform ingests and processes large volumes of technical content from all of a company’s assets, and delivers it as a unified and consistent source of product answers wherever end-users engage with it— whether it be on the company’s website, service cloud, community, or right inside the product— saving millions in customer support expenses, improving customer satisfaction, and transforming existing content into a strategic advantage. Zoomin said its platform has helped its clients to reduce support request by more than 60%, improve Net Promoter Score (NPS) ratings by 17%, and develop a culture of self-service based digital support, with an increase of 320% in the use of existing content that’s usually inaccessible to clients.
Zoomin was founded in 2016 by Gal Oron, Hannan Saltzman, and Joe Gelb and employs 85 people in Israel, New York, and London. The company’s earnings have increased five-fold in the past two years and it currently serves millions of end-users. The new capital will help Zoomin expand its sales activities in the U.S., Europe, and Asia, and enable it to recruit a substantial number of employees with an emphasis on engineering and R&D roles at the company’s Israeli research and development center.
Zoomin co-founder. Photo: Yair Hazut
The company says that the demand for effective digital customer service solutions has increased significantly throughout the Covid-19 crisis, leading to a four-fold increase in income from new deals. The rapid transition to work from home, together with a dramatic drop in organizations’ physical encounters with their customers, created an urgent need for alternatives in order to maintain an effective level of support for international customers and for the adoption of digital transformation to improve user experience with enterprise products.
“The current period has increased the importance of the end-user experience. Companies are seeking any way possible to retain their clients and offer them a personalized experience,” said Zoomin’s co-founder and CEO Gal Oron. “The end-user who has grown accustomed to shopping on Amazon and streaming series on Netflix expects the same experience in his or her work environment, an expectation that created a new standard of ease and efficiency in the use and integration of products.”
“Zoomin’s artificial intelligence-guided platform enables companies to showcase the hidden trove of technical information available on their products,” said Rafi Carmeli, a partner at Viola Growth. “Changing the way end-users deal with technical information reduces frictions, significantly improves the user experience at all stages, and enables deriving immediate value from the platform.”