Bluecore, an e-commerce marketing software startup has announced it raising $21 million in Series B round of funding led by Georgian Partners along with the previous investors FirstMark Capital and Felicis Ventures.. The company’s terms and valuation were not disclosed.
Founded in 2013, the startup Bluecore allows e-commerce marketers to create and distribute personalized emails with the rapid speed and precision not previously possible, dynamically reacting to customer behaviors and catalog changes in seconds. It became a massive hit in the market with its ability to effectively handle enormous volumes of data. This software helps the retailers to increase email engagement by leveraging and capitalizing on real-time behavioral customer data in conjunction with a brand’s product catalogue. With this, marketers can choose to send users who view specific items, email about a price drop or back in stock without much extra work.
Fayez Mohamood, CEO of Bluecore said, “The value of personalization is undisputed. The question is less about whether one should personalize content, but far more about how. Traditional marketing stacks shove data, the key component of personalization, into silos that are nearly inaccessible to marketers. Giving marketers direct access to a platform that analyzes and takes action on terabytes of behavioral data on the fly makes email personalization a reality.”
With the fresh funds, Bluecore plans to increase its current number of employees from 60 to 130 by the end of next year. Also, plans are on to focus the investment on the technology infrastructure and to scale how it ingests and analyze terabytes of customer data. Apart from the above, it also plans to invest in sales, data science and for international expansion. Though its major focus would be on email and e-commerce, the startup plans to look into new verticals, marketing channels like display and mobile.
Till date, Bluecore has raised $28.2 million in funding through its Series A and Series B funding round. Further to this round of funding, Justin LaFayette of Georgian Partners will join Bluecore’s board of directors. He said, “We were particularly impressed with Bluecore’s use of applied analytics to automatically optimize entire processes end to end.”