NEW YORK and TEL AVIV, Israel (PRWEB) December 23, 2019
Copilot, the world’s first automated customer experience platform designed for connected consumer products, today announced it has raised $5 million from the leading global venture capital firm Jerusalem Venture Partners (JVP). Based out of New York City and Tel Aviv, the company is adding thousands of new devices to its platform every day and will use the new capital to expand to New York City and target new markets. Filling this much needed gap, Copilot has landed customers around the world, serving the likes of Polaroid, Safedome, Palo Alto Innovation and Brooklyness, among others.
While CRMs and similar platforms have long dominated the customer service and customer experience categories, Copilot is the first of its kind to effectively leverage data and engage consumers across smart and IoT (Internet of Things) devices. Copilot’s platform enables brands and manufacturers to better understand the behaviors and needs of consumers, and to build a thoughtful relationship with them across their connected devices. Companies that employ Copilot improve onboarding, reduce product returns, boost product ratings and open new channels of revenue, giving them a critical advantage that increases overall customer satisfaction and builds Lifetime Value.
With this initial investment, Copilot joins JVP’s diverse portfolio of growth stage companies in emerging categories such as cybersecurity, food tech, AI, computer vision, and data and analytics, among others. JVP recently announced a new partnership with Mars to fuel food tech innovation in Israel as well as with AstraZeneca in the Digital Health domain.
“Our vision is to build a more meaningful journey between customers and brands in our increasingly connected world,” said Co-Founder Tsiki Naftaly. “We’re proud to be working together with JVP, which has been the most dynamic and farsighted venture capital firm in Israel, with a global track record of helping emerging companies grow.”
“Copilot is a cutting edge company that offers yet more evidence of the dynamic entrepreneurial spirit of Israel,” said JVP Founder and Executive Chairman Erel Margalit. “The digital revolution must translate into concrete improvements in people’s lives, and Copilot can help achieve that.”
Naftaly, along with fellow Israeli Army pilot, Zvi Frank, founded Copilot in 2016 as a spinoff of leading IoT solutions provider, Zemingo, which they also founded. Between Zemingo and Copilot, Naftaly and Frank have established a robust ecosystem of support for makers of connected devices, allowing every organization between startups and Fortune 500 companies to create personal experiences for customers through its connected devices. Prior to Copilot, Frank started conference calling company, Interwise, which was sold to AT&T in 2007.
Frank and Gadi Porat, JVP partner and board member in Copilot, worked together in the past. It was therefore only natural opportunity to join forces again, this time with JVP's investment team. "We have decided to invest in Copilot since we believe that a similar revolution made by Salesforce in the enterprise market 20 years ago, will be made by Copilot with respect to IoT and the consumer devices market through the CXM platform,” said Porat.
About Jerusalem Venture Partners (JVP)
Jerusalem Venture Partners (JVP), was founded and led by Dr. Erel Margalit, is an internationally renowned venture capital fund. JVP has to date raised $1.4 billion across 9 funds, and has been listed numerous times by Preqin, and other rankings, as one of the top-ten consistently performing VC firms worldwide. JVP has built over 140 companies, leveraging a broad network of partners and market expertise to help companies become global market leaders. JVP has been chosen by Ney York City and EDC to lead the cyber security cyber huh in NYC. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ including CyberArk Software ($4.7 billion mkt. cap.), QLIK Technologies (then $4 billion mkt. cap.) and Cogent Communications ($3 billion mkt. cap.) and more https://www.jvpvc.com/
About Copilot:
Copilot is the leading automated Customer Experience platform for consumer electronics companies. The platform delivers on the promise of IoT (Internet of Things) by offering manufacturers of connected consumer products and smart home devices the opportunity to automatically engage end users with meaningful, data-driven and behavior-based communications. Companies that employ Copilot improve onboarding, reduce product returns, boost product ratings and open new channels of revenue, giving them a critical advantage that increases overall customer satisfaction and builds Lifetime Value. Learn more about Copilot at http://www.Copilot.cx.