Jarvis ML snags $16M to help personalize companies' products – TechCrunch

Jarvis ML, a platform offering an AI-powered personalization engine to brands selling products, services and experiences, today announced that it raised $16 million in a seed round led by Dell Technologies Capital. In an interview with TechCrunch, CEO Rakesh Yadav said that the new capital will be used to grow Jarvis ML's R&D and sales and marketing teams to "accelerate product development and market penetration." As the pandemic spurred brands to spruce up -- or create from scratch -- online presences, the value of personalization came into acute focus. Accustomed to Netflix- and Amazon-like tailored product recommendations, customers began to demand the same from companies of all sizes. According to McKinsey, 71% of shoppers now expect businesses to deliver personalized interactions while 76% get frustrated when this doesn't happen. Some research -- particularly from customer analytics vendors, unsurprisingly -- suggests that personalization is a worthwhile investment.