Author: Allison Schiff // Monday, December 13, 2021 – 10:03 AM

One click can only tell you so much.

Suppose someone clicks on a webpage 10 times in a row. This could mean that the person is a super annoyed angry clicker who can't find what they want-or a customer who clicks on multiple product pictures before buying.

Convizit’s CRO Steve Grants said that tracking clicks does not provide you with a complete picture because you don’t know what someone saw when they clicked. Convizit is an analytics startup that uses artificial intelligence to collect and contextualize network event data. company.

After constructing the data, Convizit's markup technology delivers it to third-party tools used by the site, such as a customer data platform or BI solution.

"Implementing these tools can be a long and challenging process," Grants said. "We are working hard to make it simpler and faster so you can implement them in a day or two."

Convizit was co-founded in 2017 by CEO Daniel Bashari, the company's former IDF data intelligence officer. Galanz brings an advertising technology experience. In 2016, he founded Crosswise, a cross-device supplier, and sold it to Oracle for $50 million.

After raising a $5 million seed round from Israeli venture capital firm Pitango in March 2020, Convizit, with 15 employees, is now raising Series A financing to grow the team.

AdExchanger: Is there a problem with website analysis?

STEVE GLANTZ: There are many problems with the current process.

One is the time required to actually mark the website. Most of the work is still manual.

You need to define the data to be collected, involve engineers, and usually external consultants, agencies, or system integrators. Then you have to check to make sure it is done correctly, if you make any changes or malfunction, you need to complete the whole process again. This is not a one-off thing.

Most importantly, much of the data collected lacks meaning or context as we speak.

What do you mean by context?

I may know if someone clicked Add to cart, but what did they see on the page when they clicked? Do they see news that the product is being discounted, out of stock, free shipping is available, and certain colors are unavailable?

If you don’t provide the correct data for your tool, you will miss the steps in the funnel and end up trying to personalize it based on advanced metrics rather than your understanding of what the user is actually doing and viewing.

From product analysis tools, CDP and marketing automation tools to agencies and system integrators who help their clients implement these products, we find that anyone is doing anything related to website event data, which is the most attractive.

Our strengths are e-commerce, retail and SaaS products.

SaaS companies in particular don't pay attention to how people use their products, and some companies actually don't know anything about it.

no. But apart from the largest companies, they really don't have detailed data. If you have a team of 10 people who only focus on tagging, that's one thing. But most companies can't afford it, and many big companies can't even keep up.

How does Convizit's technology work?

Our technology has two pillars: automation and intelligence. It is easy to capture a large amount of data. If you manually capture it, it is also easy to intelligently process the captured data. But it is difficult to do both. This is what we did.

Customers put our script on their website, and after our algorithm has time to understand the website and check some real traffic, we create an output for each event and the name of each event. We have also performed so-called smart event grouping, which means that we not only need to see how the elements on the page are coded, we also understand their functions, and can group elements together by function, even if they are located in different regions.

We also track continuity so that minor changes to the website's UI (such as changing the color of buttons) do not break the tracking mechanism.

But one of the most important parts of our technology is that we can understand the context and understand the interrelationships between different elements on the page, so when I tell you that a user performs an X operation, you know what the user viewed during this period All content is related to the moment of the action.

Proponents of the devil, why not use Google Tag Manager directly?

If you have a simple website, such as a three-page restaurant website or a law firm website, you don’t need us, and Google Tag Manager is very suitable. However, if you are a dynamic website that is constantly changing, you cannot manually tag your website. Google Tag Manager is not built to scale on complex websites. It is not automated at all.

How does the cookie situation affect you?

We only process the company's first-party data, so we are not affected by cookies in any way. But we do allow our customers to send us the customer IDs of known users, which is important for multiple use cases, especially for CDP.

When you sold Crosswise to Oracle in 2016, it was still the heyday of cross-device. After the GDPR took effect, how did Oracle's internal life change in 2018?

I can't say too much about what happened inside Oracle, but there must have been some time when everyone was very nervous about GDPR. Although things seemed to calm down again, there was a little bit between when we sold Crosswise and I left Oracle two years later, which was a very, very important thing at the time.

This interview has been edited and condensed.

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