New Funds for Customer Lifetime Modeling Firm Retina

In the US, customer lifetime value modeling company Retina has raised $5m in a new round of funding, for use in expanding its services.

Located in Santa Monica, California, Retina uses first-party data and artificial intelligence to predict future lifetime value and customer behaviour, forecasting future spending at or before a customer's first transaction, in contrast to standard technology which the firm says typically requires more than three customer transactions to calculate long-term behavior.

New funding was led by former investor Crosscut Ventures, whose Managing Partner Rick Smith says Retina is poised for 'significant growth'. Retina co-founder and CEO Michael Greenberg (pictured) comments: 'Retina determines which customers will spend more as soon as they make their first purchase, not six months from now. Our customers are saving millions of dollars in online advertising, while also increasing sales. This funding allows us to expand our services and bring our insights to even more brands in 2020'.

Web site: www.retina.ai .