Almost 98 per cent of website traffic is not getting converted into revenue currently in spite of online advertising budgets being spent for the same. To tackle the problem head-on, Dusseldorf-based platform Pathmonk has developed an innovative SaaS platform with different products for websites to increase conversion rates and qualify leads.
The German platform focused on creating AI tools to power up websites has brought in €1.5 million in funding. The seed investment round was led by TechVision Fonds and backed by serial entrepreneur Carsten Lebtig, CEO and founder of WorkMotion.
As marketers aim to drive conversions and enhance the customer buying journey, the startup’s solution can be integrated into any existing website immediately and effortlessly. Founded in 2021 by Lukas Haensch and Rayco Batista Diaz, the AI-powered platform analyses entirely cookieless navigation data and activities of website visitors and translates the behaviour into the different stages of the buyer's journey. Based on the classification of the visitor into the different buyer's journey stages, the company offers the website operator with tools such as micro-experiences individually for each visitor. This in turn leads to an increase in the conversion rate. According to the company, the website conversion rate grows by 50 percent by using the platform.
Co-founder Lukas Haensch said: “Our key goal is to become the household name for website conversions in the cookieless world. Marketers are already searching for ways to puzzle together their first-party data strategies with the cookie apocalypse on the horizon.”
Bjorn Lang, principal at TechVision Fonds said: “With recent privacy changes, bans from Google Analytics across several European countries and the impending Cookie restrictions applying in the upcoming months, Pathmonk finds itself in a unique market position. Their solution is entirely cookieless and is aimed at helping businesses generate revenue from their website traffic.”