B2B data aggregator Leadspace has added $21 million Series C funding, bringing total raise to $56 million. Leadspace assembles data from public and private sources, combines it with a client’s own data, and uses artificial intelligence to create lead scores and alerts.
The line between customer-facing and back-office software is rapidly vanishing. GK Software mostly builds retail Point of Sale systems, but they’ve expanded to other channels and adjacent functions such as merchandising and promotion management. They just announced they’ll be using artificial intelligence to generate personalized product recommendations, dynamic pricing and promotions, smart shopping lists, and individualized newsletters. These can be delivered via POS, mobile POS, and self-service channels. You can bet there’s a customer database lurking somewhere underneath.
Snark aside, I think Forrester is right. Accenture agrees: they found that 44% of consumers are frustrated by lack of personalization but 49% worry about privacy when they subscribe to data-driven services. More than half (58%) would switch to a company that personalizes without compromising trust.
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.