German startup Bd4travel that offers a “predictive analytics platform” for the online travel industry to help target site visitors in a more personal way, has raised a $4.2 million Series A round led by London-based Hoxton Ventures. Talis Capital, and Robin Klein of The Accelerator Group also participated.
Powered by big data and machine learning, Bd4travel’s platform enables online travel companies to personalise the experience of site visitors in real-time based on an array of data points including how they land on the site and where they click.
This data, which, along with page visits includes preferences such as location, dates, price point, features, and number of people, is then used to build a profile of each current visitor so that the browsing experience can be tailored to offer the most relevant products and services with the highest probability to convert into a sale.
Also, it can as well tell if the user is just looking for inspiration or wants to book a trip or simply looking for an alternative to a fully booked hotel.
Co-founder and CEO Andy Owen-Jones maintains- “Too many websites are geared at being the ‘best site for the average user’. This means that they are not brilliantly suited to any user.” Adding further he states, “We change this so that each site can understand what every single user is after in real-time for complex products and then we respond. This represents a breakthrough in personalisation for categories such as travel.”
If a customer might land on a travel site looking for a hotel holiday with a pool to keep the kids happy, they see a few products they like the look of and check the price. However, the last couple of hotels they check are either not available or cost more than was initially shown. That is when Bd4travel can intervene in the customer’s journey if its algorithms identify them as at risk of leaving the site without making a booking or as someone who has had a poor shopping experience, and take action accordingly.
This might include triggering a help popup, suggesting an alternative that also meets their needs and at the appropriate price point, presenting a tailored discount offer where margins allow, or alerting the contact centre that there is a high value customer who may quit the site.
Furthermore, Bd4travel is also announcing that Simon Breakwell, Expedia Founder and partner at TCV, has joined the company as Chairman, as per a report by Techcrunch.