Fibr, an innovative artificial intelligence-powered personalization platform, has successfully raised $1.8 million in a funding round spearheaded by Accel. The round also included investments from 2am VC and prominent angel investors like Kunal Shah, founder of Cred.
Revolutionizing Personalization with Cutting-Edge AI
Fibr plans to utilize the funds to advance its AI personalization platform, broaden its customer base, and recruit top-tier talent, including engineers, product marketers, and sales and go-to-market experts. The platform aims to create unique, tailored experiences for website visitors, delivering personalized content and marketing messages based on individual preferences and behaviors.
Founded in January 2023 by Ankur Goyal and Pritam Roy, Fibr’s flagship product, Pilot, enhances conversions by offering personalized landing pages for every ad, email, SMS, notification, or any other communication channel.
Challenging the Status Quo of Personalization Tools
“Most personalization tools available are quite outdated,” stated Goyal. “They excel in one area, be it web, ads, or email, but miss the comprehensive picture. They often resort to generic pop-ups, adding names in emails, or running basic A/B tests. That’s not true personalization,” he told ET.
Fibr primarily serves lead generation clients across sectors such as insurance, broadband, home improvement, and consumer services. The company is currently targeting markets in the US, Canada, and India, with plans to expand into Europe.
“For us, the US remains the primary focus, but Europe is also a great target due to our alignment with general data protection regulation (GDPR),” Goyal explained. “By the end of this year, we aim to have 60-70% of our operations in the US, 10-20% in India, and potentially start in Europe.”
Expanding Product Line with AI-Powered Tools
The Bengaluru-based startup is developing the beta version of its second product, Blocks. “Our second product includes AI tools that help marketers scale their content across various formats, such as converting a high-performing Facebook ad into a blog, Google ad, or social media post,” Goyal elaborated.
A Gamechanger in the Ad Ecosystem
Prayank Swaroop, partner at Accel, expressed his optimism about the investment, saying, “We believe Fibr’s landing page for every ad proposition could revolutionize the ad ecosystem for consumer companies, especially given the customer acquisition cost (CAC) challenges arising from privacy policies and cookie deprecation. Fibr’s affordable sachet pricing model, where users only pay for usage, disrupts traditional SaaS pricing, making it accessible for all marketers.
- What are the biggest challenges you see in the current personalization tools market that Fibr aims to address?
- How do you think AI-powered personalization tools like Fibr will change the landscape of digital marketing?
