Loops.ai claims to have developed the first ‘Product Growth Platform’ beyond dashboard. A claim that is $14 million worth. Loops.ai announced its public launch with $14 million in Seed funding.
Loops, an US-Israeli start-up, enables product and growth teams to improve their key performance indicators (KPIs) by automatically identifying concrete opportunities from their data.
Using Loops, early customers have already experienced an average of 20-30% uplift across all topline metrics. Early success has translated to 8x revenue growth for Loops over the last seven months as it rapidly expands its customer base. Companies such as Monday, Replit and Taboola recently chose Loops, with market enthusiasm building.
No Dash-Board Guessing&Dark-Data
Over the last 10 years, the tech ecosystem has repeatedly emphasized the importance of making data-driven decisions. Many analytics solutions came to market, but in attempting to address one problem, they created another: they democratized data, not opportunities.
In today’s world, both B2B and B2C companies should be able to rely on their mountains of data to fuel their PLG motion and effectively meet their customers’ needs. Instead, product teams are flooded with dashboards and data sources that can be overwhelming. They’re required to find hidden insights and pull them from massive collections of raw data.
McKinsey found that only 1% of generated data have even been analyzed, while Splunk noted that 55% of all data collected by businesses is “dark data,” or information that is collected but never used.
Loops no-code solution plugs into data sources and automatically runs thousands of proprietary analyses and ML models that examine millions of data points to reveal exactly what product and growth teams need to know. Applying unique ML models to examine the root of particular outcomes, versus simply looking at relationships between things, Loops maps cause and effect directly to the company’s KPIs.
It identifies and prioritizes the most impactful opportunities and pushes recommended actions to teams, eliminating guesswork about the steps they should take moving forward. Loops also measures the impact of actions and refines its recommendations over time so that teams consistently build better and more profitable products.
Based on press release by Loops.ai, selected as relevant, shortend, adopted, headline by VonNaftali.