BloomReach, a start-up based in Mountain View, California, raised $56 million in Series D funding for its cloud personalization platform.
BloomReach provides a single Personalization Platform that includes applications for organic search, personalized site-search and navigation in addition to marketing and merchandising analytics. The products now are broken into two families, including:
- BloomReach Commerce, encompassing BloomReach’s Organic Search and SNAP applications, that drives 10-40 percent lift by algorithmically optimizing site experience.
- BloomReach Compass, role-specific analytics providing machine-intelligence insights, KPI management and action-tracking for marketers and merchandisers, that leads to an average $8,000 in monthly revenue for each action taken. With customers like SendGrid, development of BloomReach Compass also has paved the way for BloomReach’s further expansion outside of e-commerce.
The company said it now captures data from approximately 20.5 percent of all U.S. e-commerce and currently has more than 175 customers, including 57 from the Internet Retailer Top 500. BloomReach also is experiencing 70 percent in new average contract value (ACV) growth.
Investors include Bain Capital Ventures, Battery Ventures, Lightspeed Ventures, New Enterprise Associates and Salesforce Ventures. Also demonstrating BloomReach’s growing presence, joining its Board of Directors is the CEO and co-founder of Guidewire Software, Inc., Marcus Ryu.
“There’s a $10-billion opportunity in marketing tech, and BloomReach has the core data-expertise to understand, learn and apply big data to make every experience personal for all digital businesses,” said BloomReach co-founder and CEO Raj De Datta. “When the leading investors in our space show their confidence with this level of investment, it tells the entire landscape that BloomReach has the staying power to take the market. And, our growing, unmatched portfolio of customers proves it.”
