Predictive marketing startup Yieldify Ltd. has raised $11.5 million Series A in a round that included Google Ventures and Softbank Capital.

Founded in 2013, Yieldify’s predictive marketing technology and fully managed service tackles the problem of abandoned shopping carts on sites selling online, where some 70 percent of people don’t complete transactions, by delivering the ability to for those companies to better convert their shoppers.

The company seeks to overcome the problem with technology that reacts to customers’ on-site behavior by triggering a personalized campaign to reduce abandonment and increase conversions.

The campaigns are generated to match a customer’s specific behavior, not just their assigned segmentation, but using multichannel browsing history (that is browsing outside of the given site) to generate individual outreach, even for first-time site visitors.

“It’s quite a unique technology that reacts to a customer’s onsite behavior,” said Google Ventures general partner Avid Larizadeh Duggan. “One of the other differences is that it is very focused on lower funnel optimization.”

Not alone among companies offering services to better convert shoppers into buyers, Yieldify does have one other distinct difference: it doesn’t charge for its service upfront.

Instead, the company only gets paid when their technology results in a conversion by taking a cut of the transaction.

The model would appear to be working for them, with Yieldify working with over 1000 brands worldwide to increase conversions, including big brands including Marks and Spencers, French Connection, Steiner Sports and Monarch.

Revenue last year is said to have grown 480 percent, although the company has not released their actual sales figures. So while the growth is impressive, it could be off a relatively small base, although given Google and Softbank are investing, we’d hazard to guess that’s unlikely.

Based in London, England, Yieldify has raised $12.7 million to-date including the new round.

The company said it would use the new round to fund market expansions in London, New York, Berlin, and Sydney, along with an increased head count of engineers and data scientists.

Image source: Yieldify Ltd.