Yofi, the digital identity platform that helps brands and retailers better understand their customers through data synthesis and recommendations, announced today their official launch following the closing of a pre-seed round of funding. With data increasingly being skewed by bots, bad actors, and duplicate accounts, brands have an opaque view of their true customers. Yofi, formerly known as BotNot, utilizes the overwhelming amount of data that brands have access to and provides a clearer picture of their actual customer while also curating recommendations that maximize business results.
Yofi’s founders, Alex Shamir, Jordan Shamir, and Andrew Stetsenko, experienced the expensive impacts of using skewed data while working at some of the world’s most notable and largest brands. After identifying the whitespace opportunity, Yofi was born. The team began working in the collectibles and beauty industries while continuing to see strong demand across a variety of verticals.
The pre-seed funding round was led by a Kickstart Fund with Data Tech Fund, Signal Peak Ventures, Rocky Point Ventures, BBQ Capital, and other angel investors joining the syndicate.
“When we were younger, we were botters ourselves. We saw first-hand how concert tickets or sneakers were being bought up the minute they were released, and recognized how bots, bad actors and fraudsters’ dominance in the online retail market is completely skewing brand data,” said Alex Shamir, co-founder of Yofi. “We also realized that in today’s online marketplace, everyday consumers are using multiple email addresses or signing up to engage with brands in a number of ways.”
“Brands are left with an abundance of data, but if what they have access to doesn’t tell the real story of their actual customers, then the data is not valuable and could impede the ability to make critical business decisions,” said Jordan Shamir, co-founder of Yofi. “We are thrilled to be able to help brands get smarter and clearer on who their customers are, and then provide the best solutions for these brands to help them reach their business goals.”
In 2021, 35.7% of Black Friday Shoppers were bots or fraudsters1, and Yofi believes this trend will continue to rapidly grow and become a larger problem for all brands. Accordingly, Yofi’s platform was built to provide sophisticated customer, marketing, and product recommendations for brands. Through improving the brand-to-customer relationship, Yofi helps brands improve their customer lifetime value, retention, and experience.
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