People simply couldn’t order taxis. And without a solid user experience in place, there’s no chance to engage, retain or monetize.
Beyond real-time damage control, some Anodot customers – clients include Wix, Microsoft, AOL, Rubicon Project and Credit Karma – use the platform to handle unexpected business opportunities.
“We have a client that automatically adds more servers to handle peaks in traffic,” Drai said. “We supply an understanding of what’s happening, and then the client provides the intelligence on top of it.”
According to Drai, Anodot’s biggest competition actually comes from internal legacy products developed within the companies it’s looking to sign on as clients.
That was almost the case with personal finance credit reporting and monitoring company Credit Karma, which was on the verge several months ago of building its own in-house tool for identifying business incidents when it came across Anodot and decided to partner instead, said Drai.
“But there are some cases where the capital has already been invested in machine learning and data analytics,” he said. “And then it’s more difficult for the company to justify the replacement of what they’ve already developed.”
Anodot plans to spend the bulk of its infusion on hiring in the US with a focus on sales and engineering. The goal is to roughly double company headcount from today’s 22 by next year. A portion of the cash is also being earmarked for R&D.
Founded in 2014, Anodot claims “several million” in revenue this year, with a plan to hit more than $5 million in annual contract value over the course of the coming year. The company has its headquarters in Israel, with additional spots in Silicon Valley and Germany.