Co-Founded by two Israeli pilots, Copilot aims to reinvent the way consumer electronics manufacturers engage with their customers
Copilot, the world’s first automated customer experience platform designed for connected consumer products, today announced it has raised $5 million from the leading global venture capital firm Jerusalem Venture Partners (JVP). Based out of New York City and Tel Aviv, the company is adding thousands of new devices to its platform every day and will use the new capital to expand to New York City and target new markets. Filling this much needed gap, Copilot has landed customers around the world, serving the likes of Polaroid, Safedome, Palo Alto Innovation and Brooklyness, among others.
While CRMs and similar platforms have long dominated the customer service and customer experience categories, Copilot is the first of its kind to effectively leverage data and engage consumers across smart and IoT (Internet of Things) devices. Copilot’s platform enables brands and manufacturers to better understand the behaviors and needs of consumers, and to build a thoughtful relationship with them across their connected devices. Companies that employ Copilot improve onboarding, reduce product returns, boost product ratings and open new channels of revenue, giving them a critical advantage that increases overall customer satisfaction and builds Lifetime Value.
With this initial investment, Copilot joins JVP’s diverse portfolio of growth stage companies in emerging categories such as cybersecurity, food tech, AI, computer vision, and data and analytics, among others. JVP recently announced a new partnership with Mars to fuel food tech innovation in Israel as well as with AstraZeneca in the Digital Health domain.
“Our vision is to build a more meaningful journey between customers and brands in our increasingly connected world,” said Co-Founder Tsiki Naftaly. “We’re proud to be working together with JVP, which has been the most dynamic and farsighted venture capital firm in Israel, with a global track record of helping emerging companies grow.”
“Copilot is a cutting edge company that offers yet more evidence of the dynamic entrepreneurial spirit of Israel,” said JVP Founder and Executive Chairman Erel Margalit. “The digital revolution must translate into concrete improvements in people’s lives, and Copilot can help achieve that.”
Naftaly, along with fellow Israeli Army pilot, Zvi Frank, founded Copilot in 2016 as a spinoff of leading IoT solutions provider, Zemingo, which they also founded. Between Zemingo and Copilot, Naftaly and Frank have established a robust ecosystem of support for makers of connected devices, allowing every organization between startups and Fortune 500 companies to create personal experiences for customers through its connected devices. Prior to Copilot, Frank started conference calling company, Interwise, which was sold to AT&T in 2007.
Frank and Gadi Porat, JVP partner and board member in Copilot, worked together in the past. It was therefore only natural opportunity to join forces again, this time with JVP’s investment team. “We have decided to invest in Copilot since we believe that a similar revolution made by Salesforce in the enterprise market 20 years ago, will be made by Copilot with respect to IoT and the consumer devices market through the CXM platform,” said Porat.