Since its inception 3 years ago and its formal founding 2 years ago, Cognilyze has developed and released innovative technology for customer modeling, personalization and product recommendation. Our core technology is based on Artificial Intelligence, Cognitive Science and Psychology, and is the only solution on the market that does individualized one-by-one analysis of customers and the products to recommend them, without any statistics or clustering comparing customers. Our deployed solution ran in a scalable manner on Google Cloud, and handled millions of users a day in a production trial on fingerhut.com, owned by Bluestem Brands.
Our trial confirmed that our Cognitive Science based technology can understand and model shoppers in a much deeper and more comprehensive manner than the leading solutions on the market. Our solution processed over 80,000 unique customers per day, displayed over 23.5 million product recommendations, and achieved 2.7x the added value from recommendations of the market leader in a direct A/B test. Our recommendations successfully sold products cross-category, pre- and post-purchase, on revisits to a site or after browsing, and in e-mail and mobile promotions. Our technology is also perfect for promoting new products, even before any statistics are gathered for them, and in marketplaces where statistics are similarly unavailable.
Despite our successful deployment with Bluestem, Cognilyze was not successful in generating cashflow or follow-on investment. Our challenge was finding customers willing to leave the market leaders to work with smaller vendors, regardless of whether we had built a better mousetrap. We did, however, have significant interest from platform companies and integrators in partnering with us. Because of this, we realize that our technology will succeed better as part of a bigger, more comprehensive package of digital solutions offered by larger providers or integrated by e-commerce sites.
We have therefore decided to focus on finding a new home for the technology and intellectual property that we developed. This includes the technology built by our development team, under the direction of CTO Bruce Krulwich, a veteran technologist with a PhD in Artificial Intelligence, our U.S. patent application, and our cognitive models built under the direction of our Chief Scientist Professor David Leiser, Founder of the Center for Decision Making and Economic Psychology at Ben Gurion University and President of the United Nations IAAP Chapter on Economic Psychology. We are offering all interested parties the opportunity to buy our technology, cloud-based solution and U.S. patent application. Incorporated into broader solutions or platforms, our technology can enable you to better understand shoppers, model their interests and motivations and target them more effectively.
We are now considering all offers for our technology, code, intellectual property and solution.
Feel free to e-mail us at founders@cognilyze.com and we will send you materials describing our intellectual property, solution distinction, production trial and more.
