Zylotech Expands Thanks to MassDevelopment's Emerging Technology Fund
October 23, 2018
FOR IMMEDIATE RELEASE
Kelsey Schiller, MassDevelopment, 617-330-2011 & 617-694-9695 (cell)
Christina Tramontozzi, Zylotech Inc.
MassDevelopment has issued a $500,000 Emerging Technology Fund loan to Zylotech Inc., an AI-driven customer analytics company in Cambridge’s Kendall Square neighborhood. Zylotech has developed an analytics engine that enables businesses and organizations to more effectively retain customers and drive brand loyalty. The company will use loan proceeds to assist in the hiring of full-time employees that will support its marketing, sales, and technology teams.
“MassDevelopment’s Emerging Technology Fund is designed to help innovative companies, like Zylotech, Inc., grow in the Commonwealth,” said MassDevelopment President and CEO Lauren Liss. “Zylotech is already making inroads in the automated customer intelligence space, and this funding will help the company hire new employees and expand its reach even further.”
Spun out of MIT in 2014, the founders of Zylotech, Inc. have created an AI-driven customer analytics platform that empowers marketers with contextual, dynamic, and real-time customer interactions. Powered by machine learning, the platform continuously unifies, analyzes, and segments customer data to help businesses and organizations activate campaigns through a variety of marketing solutions.
“We are honored to receive this support from MassDevelopment, and to be recognized as an innovator in the AI revolution in Massachusetts,” said Zylotech Founder and CEO Abhi Yadav. “Harnessing customer data is critical to monetizing companies’ relationships. We are helping B2B and B2C enterprises dramatically increase revenue while building lasting customer relationships.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2018, MassDevelopment financed or managed 384 projects generating investment of more than $4.1 billion in the Massachusetts economy. These projects are estimated to create or support 10,994 jobs and build or rehabilitate 830 housing units.