INSUBCONTINENT EXCLUSIVE:
Namogoo, the Herzliya, Israel-based company that has developed a solution for e-commerce and other online enterprises to prevent “customer
journey hijacking,” has raised $40 million in Series C funding.The round is led by Oak HC/FT, with participation from existing backers
GreatPoint Ventures, Blumberg Capital and Hanaco Ventures
It brings total raised by Namogoo to $69 million, and sees Matt Streisfeld, partner at Oak HC/FT, join the company’s board.Founded by
Chemi Katz and Ohad Greenshpan in 2014, Namogoo’s platform gives online businesses more control over the customer journey by preventing
unauthorized ad injections that attempt to divert customers to competitors
It also helps uncover privacy and compliance risks that can come from the use of third and fourth-party ad vendors.More broadly, Namogoo
says that customer journey hijacking is a growing but little-known problem that by some estimates affects 15-25% of all user web sessions
and therefore costs e-commerce businesses hundreds of millions in lost revenue.Unauthorized ads are injected into consumer web browsers —
on the consumer side, typically via malware the user has unintentionally installed — meaning that e-commerce sites are often unaware that
This results in product ads, banners and pop-ups, which appear when visiting an e-commerce site
The ads disrupt the user experience, hoping to send them to competitor sites.Namogoo says that retailers using its technology see conversion
rates increase between 2-5%, which in the first half of 2019 totaled more than $575 million in revenue for Namogoo customers
It is used by more than 150 global brands in over 38 countries, including Tumi, Asics, Argos, Dollar Shave Club, Tailored Brands, Upwork and
others.Meanwhile, Namogoo will use the new funding to further expand its client-side platform offerings, beginning with the launch of its
“customer privacy protection solution.” “The solution detects and mitigates against customer privacy risks associated with third and
fouth-party vendors running on company websites and applications,” explains the company.
