The platform developed by Tagado collects customer feedback from any source and provides business insights through NLP technology.
November 4, 2022 – Tagado, a company that collects customer feedback about companies and transforms them into business insights using natural language processing (NPL), has raised $4 million in seed funding. The capital will support recruitment and the expansion into the U.S. market.
Blumberg Capital and Bling Capital participated in the funding round. Blumberg Capital is an early stage investor based in the U.S. and Israel and is known as one of the first investors in Israeli-founded companies such as Yotpo, IntSights, DoubleVerify and Deep Instinct. Bling Capital is an American investment fund that invests in consumer technology data and fintech.
Today, every company collects feedback from its customers through different channels. While companies invest time and resources to understand and analyze the accumulated feedback, they often fail to generate reliable insights. As the amount of data increases, it will be difficult to meet customer expectations adequately without suitable tools. Tagado solves this problem, by making all data accessible while generating automatic actionable insights, supplying smart summaries, and filtering by topic, subtopic or specific keywords.
Tagado’s platform allows companies to organize customer feedback from multiple channels and generate actionable business insights automatically. It gathers public and internal information from review sites, social media, support tickets, CRM, and more, and uses models of natural language processing and machine learning (ML-NLP) in order to identify trends and micro-trends, opportunities and risks and flood them to the customer.
Tagado’s technology is based on NLP. Computers learn how to understand words and context in them, as well as classify and identify different insights in various areas of the customer’s experience. As a result, Tagado can serve multiple departments within an organization, such as customer service, customer experience, business operations, and product development.
The company’s focus is on the customer experience space. In the past, the work mainly focused on understanding the perception of the brand in the eyes of the customers by his behavior, but advances in the language processing technology have made it possible to deeply understand the meaning behind each feedback, to analyze exactly what people dislike in the product they use and if they understand the capabilities correctly, and to examine improvements that the company might want to make.
Tagado was founded in 2021 by Ohad Zadok, CEO, Eli Lepkifker, CTO, and Dor Stern, VP research and development. All three founders have entrepreneurial and technological backgrounds in the industry. Ohad previously served as VP PRODUCT at BreezoMeter, which was recently purchased by Google, for 5 years and founded Gadgety, an Israeli technology website. Eli Lefkifkar served in his last position as VP NLP & DATA SCIENCE at Citi Bank, and Dor Stern served as head of the development team at Bidalgo (which was acquired by IronSource). Tagado employs about ten employees and its office is located in Tel Aviv. Its clients include BreezoMeter, Melio and CuraLife.
CEO of Tagado, Ohad Zadok: “We developed technology to assist businesses and managers in making informed decisions regarding their next steps. As a result of the insights our technology can provide, companies can improve their performance of the business, identify missing marketing messages, and determine which new features will be most impactful. One of our greatest advantages is enabling our customers to make smarter business decisions based on information from the people who are most important to them – their customers.
Vice President at Blumberg Capital, Ilia Shnaidman: ״Understanding customers’ needs creates a clear strategic advantage in building better products. Historically, using advanced AI to analyze customer feedback was an ability reserved for only the largest and most technologically advanced companies. Tagado’s platform is a game changer for any company focusing on its most important asset: its customers. We believe there is a massive opportunity for Tagado to be a part of any company’s day-to-day decision-making.”