By Patience Haggin
Aug. 31, 2016 7:30 a.m. ET
The venture capital arm of Nielsen Holdings PLC, a company that provides businesses with data about consumers, has led a $4 million seed round in a startup that uses artificial intelligence to gather data on brands’ performance on product and customer satisfaction.
Nielsen Innovate invested in Revuze, a company mines unstructured data sources including social-media posts and reviews on e-commerce websites to collect data on a brand’s customer satisfaction. The company’s funding round also included NPD and TIC Group.
“It’s about extracting from this gigantic sea of data that’s publishing every day to help brands better understand their marketing and product,” said John Burbank, president of strategic initiatives at Nielsen. “We’re bringing Revuze out to our clients. We almost treat them as if they’re part of the Nielsen family. What happens down the road is yet to be determined.”
Revuze will use the new funding to expand its sales and to build new features for the product. The company, founded in Netanya, Israel, will open offices in New York and San Francisco. It will look to raise another round around the end of this year or the beginning of next year, said co-founder and Chief Executive Ido Ramati.
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