Today we announced the acquisition of Custora, a brilliant and passionate team that has built a great product delivering customer insights and analytics to amazing consumer brands like J.Crew, Uniqlo, Kenneth Cole, e.l.f. Cosmetics, and Crocs. Together, we’ll be one platform that provides brands an enterprise-scale solution – a true customer 360 with deep analytics and insights – to help users more effectively deliver relevant, meaningful communications to their customers.
After seeing so many of our customers build the customer 360 foundation they once thought was impossible to achieve, we started to ask ourselves what more can we do to leverage the strength of our core to give brands even more capability to use data to serve the customer. It became clear that in order to accelerate that mission, we needed to expand our capabilities around insights and decisioning.
Rewinding back to early 2018 when we first met Custora’s founders, Corey Pierson and Jon Pospischil, we quickly realized Amperity and Custora were kindred companies, as was apparent in our mission statements:
Amperity: To help people use data to serve the customer
Custora: To help brands improve the relationship with their customers
We also realized that our founding stories were inspired by integrating academic research and industry. As companies looking to develop new products that would solve for uncertain data, probabilistic databases, lifetime value of the customer, and the use of cutting-edge data science to use more of a brand’s valuable customer data, Amperity looked to University of Washington’s Professor of C.S. & Eng Dr. Dan Suciu, while Custora looked to Wharton School Professor of Marketing, Peter Fader, who is a thought leader in predictive customer lifetime models.
While these professors focused on solving for different disciplines, one common theme emerged: brands must focus on improving how they use data to identify and deeply understand all of their customers – from the most valuable to those who are new to the brand – in order to achieve 1:1 personalization at scale to drive more revenue, gain market share, and increase shareholder value.
Together, we now have a clear path to achieving our mission to help brands on their journey to:
KNOW who your customers are across every system and interaction with the brand.
DECIDE and understand which initiatives, campaigns, segments, and offers to invest in and prioritize for the greatest impact to the business.
SERVE by building, testing, and activating the right segments across a variety of systems to better deliver personalized customer experiences.
By integrating Custora’s functionality with the Amperity platform, we are bringing enterprise scalability and flexibility to two major categories of insights and decisioning:
Predicting customer behavior (customer lifecycle status, discount sensitivity, customer lifetime value, converting one-time buyers, minimizing churn)
Maximizing the reach of campaigns (drag and drop capability for revenue forecasting, opportunity sizing, and prioritization by segment, on-demand)
In addition to this unique IP, we are super excited to be adding an extraordinarily talented and customer-focused team with unique skills in predictive customer analytics. We now have a deep bench of experts and analysts who will be able to help you connect this software capability with practical application to a brand’s business. And finally, we’re thrilled to officially be bi-coastal with Custora becoming our second headquarters outside our hometown of Seattle, in New York City.
This is a milestone moment for us, and we are so incredibly grateful to all of you in the Amperity community for being on this journey with us. Joining two best-in-breed solutions is a tremendous opportunity to deliver the capabilities that brands need to thrive as customer-centric businesses of the future. We’ve now been at this for less than four years, and we couldn’t be more thankful to already be extending what’s possible with a true 360-degree view of the customer with the insights and actions that stem from the truth of the right data foundation. We are fueled by the energy and ambition of our Amperity community and are confident in moving forward towards our goal: to empower brands around the world to unlock their full potential.
Welcome to the team, Custora.
Kabir
Comments?
Let us know what you think about A New Day: Amperity Acquires Custora on Twitter.