Investing in Ocurate

8-Bit Capital was the first investor in Ocurate, a new startup offering a quantum leap in LTV prediction accuracy, founded by a Stanford PhD and AI expert.

Today Ocurate was covered by TechCrunch, and their $3.5M seed round was announced:

Two of its customers, Wild Earth and eSalon, say they are already getting good insights. Tamim Mourad, co-founder of eSalon, an e-commerce site for hair color, said that for years the company tried to build its own lifetime value model to be better at prediction, but didn’t have a data science team. With Ocurate, it can now build more accurate predictive models to better target and segment clients, and understand where the company sits historically.

Steve Simitzis, chief technology officer for pet food company Wild Earth, said he is focused on customer retention and reducing churn, but traditional methods of doing this often means chasing after customers, which is both annoying and expensive.

“What I liked about Ocurate is that they focused on giving a good sense of customers who were likely to churn so we could pinpoint our efforts,” he said. “For each customer, they give you two numbers, likely churn and how persuadable they are.”

Read more at TechCrunch.