Bluecore Announces $35M Series C to Increase Growth for Retail and Brand Customers, and Accelerate Product Development
New York, New York | October 4, 2017
Norwest Venture Partners invests in company transforming the way retailers and brands do business, powering real-time marketing actions
Bluecore, the leading retail marketing technology company, today announced a $35 million Series C round of financing led by Norwest Venture Partners with participation from existing investors Georgian Partners, FirstMark Capital and Felicis Ventures. Scott Beechuk, partner at Norwest Venture Partners and former SVP of product management at Salesforce Service Cloud, will join Bluecore’s board of directors.
“Retail is facing a massive transformation driven by the emergence of strong, data-driven competitors, and fundamental changes in consumer buying behaviors and expectations. Now more than ever, it’s critical that retailers and brands take advantage of the wealth of consumer information in their own data,” said Beechuk. “Bluecore has quickly become the market leader in retail decisioning and personalization. The company’s impressive growth – doubling its customer base in just 18 months, with three-year CAGR over 250 percent – demonstrates the value Bluecore creates for its customers. We see a tremendous market opportunity ahead for the Bluecore team.”
Bluecore enables eCommerce marketers to individualize customer interactions across email, website, display and social by unifying product catalog and customer behavior data. More than 400 brands and retailers, including Express, Staples, Blue Nile, and Sephora, use Bluecore’s platform to drive revenue growth and improve margins. Bluecore acts as an intelligent decisioning layer for eCommerce companies, powering individualized and triggered communications. The platform ingests terabytes of catalog, behavior and transaction data in milliseconds, and calculates intent and optimal messages on the fly to enable instant and dynamic marketing actions.
Leading diamond and fine jewelry retailer Blue Nile uses Bluecore to send more relevant and personalized communications to its customers.
“We first used Bluecore to send triggered price reduction messages to customers who were deep in our diamond shopping funnel. We were impressed with the speed and ease of setup, and ultimately the results from the campaign,” said Jon Sainsbury, Blue Nile’s chief strategy officer. “Now, after a few years of partnership, we have a large set of unified product and consumer data. Every email we send with Bluecore is personally tailored to our consumer, which allows us to send fewer messages at significantly increased revenue per send.”
“This new funding will fuel our growth by accelerating the delivery of the Bluecore platform to customers and enabling additional product development,” said Fayez Mohamood, co-founder and CEO of Bluecore. “With the addition of Norwest to our current investment team of FirstMark Capital, Georgian Partners and Felicis Ventures, we’ve assembled a powerhouse team that has collectively backed some of the most successful eCommerce and retail brands, including Shopify, Jet.com, Casper and Pinterest.”
Bluecore is a retail marketing technology company that empowers marketers to launch any personalized campaign in 60 seconds through a single platform that connects real-time product and customer data. More than 400 retail brands, including Staples, Tommy Hilfiger, Perry Ellis, Teleflora and Best Buy Canada, use Bluecore to deploy triggered communications across email, social media, search and display. Bluecore’s AI-driven decisioning engine determines the timing and content for the next-best communication based on insight into individual shoppers’ onsite behaviors and how specific product shifts influence their actions. All of this drives relevance for shoppers and increased revenue with less effort for brands. Learn more at www.bluecore.com.
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