Tuesday, June 25, 2019

Retina Launches AI, Machine Learning Tool For E-commerce Companies

Los Angeles-based Retina, a startup which develops machine learning and artificial intelligence software for predicting customer lifetime value (CLV) of a company's customer, said it has launched a new tool that it is offering up to small to middle-market e-commerce businesses. According to the company, its new service, Retina Go! helps e-commerce companies lower their cost-per-acquisition (CPA) of customers by up to 20 to 30 percent. The startup--led by Michael Greenberg--already is using its software to help Dollar Shave Club with its customer lifetime value predictions. Retina is backed by Comcast Ventures, and one of its founders was formerly head of business marketing operations at Facebook. The company said it offers up detailed analysis of the CLV of customer's customers, including predicted churn date, lifecycle segmentation, and much more. The company's other customers also include Backcountry, Madison Reed, Ritual and DSTLD.