Bluecore Announces $125 Million Series E Funding Round
Today, ecommerce personalization platform Bluecore announced a $125 million Series E funding round led by existing investor Georgian at a valuation of $1 billion. Also participating in this round are FirstMark and Norwest.
In a nutshell, Bluecore’s technology allows retailers to prioritize customer interactions that drive key ecommerce KPIs that directly influence their business, including increased purchase frequency and customer lifetime value. This has resulted in billions of dollars in Gross Merchandising Value (GMV) for hundreds of ecommerce brands.
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What is Bluecore?
Bluecore Series Georgian 1bmillertechcrunch is a predictive marketing technology company that leverages data from direct marketing, including email, social media and site activity to make better predictions about who might want to buy what among its customers. Its platform allows marketers to set up simple if/then combinations and send emails to users when certain products, such as new cuts of jeans, become available.
The company, which has been around since 2013, raised $125 million in a Series E round led by Georgian Partners, with participation from FirstMark Capital and Norwest Venture Partners. The round is a significant boost from its previous $35 million Series C in 2017, per PitchBook.
Founded in 2013 and based in NYC, Bluecore helps connect shoppers to the products, contents and offers they’re seeking using its predictive intelligence AI platform that merges three traditionally disconnected data sets into a single unified view: Shopper Identity (who is the shopper?), Shopper Behavior (how and where they engage with products) and Product Catalogue (which products they are engaging with). It’s positioned at the core of retailers’ digital marketing stacks and predicts and executes on the experience a shopper should receive across owned and paid channels, including email, ecommerce websites, social media and search ads.
Unlike major marketing clouds and legacy technologies built for mass marketing, Bluecore prioritizes mission critical ecommerce KPIs that directly influence retail growth, including increased purchase frequency and customer lifetime value. Its platform is used by hundreds of ecommerce brands and a fraction of the world’s top brands to drive billions in Gross Merchandising Value. The company’s customers include Express, Staples, Blue Nile and Sephora. The firm operates on a success-driven pricing model, where it charges its clients based solely on traffic and conversions generated by Bluecore’s predictive analytics.
