Pathmonk closed a seed investment round to boost its next-generation AI website conversion platform for marketers.
12th August 2022 – Dusseldorf-based startup, Pathmonk has closed a seed investment round to boost its next-generation AI website conversion platform for marketers. The €1.5 million investment round was led by TechVision Founds and completed by serial entrepreneur Carsten Lebtig (CEO and founder WorkMotion).
This investment round serves to fuel Pathmonk’s growth trajectory and its mission to power up websites with AI tools. Pathmonk helps companies get more conversions from their website by applying behavior analysis on website visitors in order to increase leads captured and revenue generation.
Pathmonk has developed an innovative SaaS platform with varying products that help websites increase conversion rates and qualify leads. Pathmonk’s solution can be integrated into any existing website, immediately and effortlessly. The AI-powered platform, which is entirely cookieless, analyses the navigation data and activities of website visitors and translates the behavior into the different stages of the buyer’s journey.
This provides the website operator with transparency about the performance of the website paired with concrete indications as to why website visitors may not be converting. Based on the classification of the visitor in the different buyer’s journey stages, Pathmonk provides the website operator with tools, such as so-called micro-experiences crafted individually for each visitor, to ultimately increase the conversion rate.
The products promise an average increase of 50% in website conversion rates. The cookieless technology makes it possible to retarget former website visitors to bring back potential customers. In times of the looming cookie apocalypse, Pathmonk offers a unique new solution. The retargeting is primarily aimed at companies that sell their software solutions via their own website, agencies, and soon, e-commerce customers. In the future, the product portfolio for marketers will be completed by launching a product to neutralize the carbon footprint of websites based on the number of actual visitors.
The current investment round reflects Pathmonk’s traction and market position.
“With recent privacy changes, bans from Google Analytics across several European countries, and the impending Cookie restrictions being applied 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. This funding answers the existing demand for Pathmonk’s technologies and enables rapid expansion to satisfy the market needs.” Bjorn Lang Principal at TechVision Fonds
As marketers aim to drive conversions and enhance the customer buying journey with Pathmonk they have an AI-powered tool at hand to drive revenue from their websites. With this, Pathmonk has established itself as a thought leader in the space of digital buying journeys.
“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.” States Lukas Haensch, Co-Founder at Pathmonk. “Marketers across small and large organizations continue to have the same goal in mind: Generating more revenue from their website traffic. Now Pathmonk can accurately deliver that: higher website conversions and super efficient retargeting without the need for cookies at all”
Co-Founder Rayco Batista Diaz adds: “We are just at the very beginning of our mission as a company and we are experiencing tremendous momentum. This partnership with TechVision Fonds and Carsten Lebtig sets a milestone in our journey and will accelerate our plans exponentially. We are very excited about the upcoming months.
Pascal Bless, Investment Manager at TechVision Fonds, adds: “We’re looking forward to watching this expansion happen. Pathmonk has experienced extraordinary growth since its inception while maintaining excellent customer satisfaction. Due to the right timing, its popularity, and remarkable traction, Pathmonk is well on its way to becoming a leading, global conversion brand. We are very happy to welcome Pathmonk to the TVF family”
TVF is joined by Carsten Lebtig, a successful serial entrepreneur and founder of WorkMotion. Having run several successful investment rounds for WorkMotion, with investors from teams like Canaan, Activant Capital, and XAnge he has a firm belief in the team and product at Pathmonk: “From the first moment I was impressed with how Lukas and Rayco have been customer-obsessed. With minimal resources, but an intense focus on delivering value, they have built a product with a lot of growth potential.”
Pathmonk is a Startup focused on creating AI Tools to power up websites. Pathmonk’s solutions help marketers who want better results from their websites. Beyond this, they offer a future-proof approach to the current website and analytics solutions in the market. Using a cookieless method, providing advanced business intelligence data, while enhancing and improving the user experience directly on the website, Pathmonk unlocks extra conversions and revenue.