Bluecore has raised $35 million in a Series C funding round led by Norwest Venture partners. Other companies who participated in this funding round are FirstMark Capital, Georgian Partners and Felicis Ventures.
Bluecore is a decision-making platform for commerce, which powers unique interactions by unifying customer and catalog data. The company specializes in retail marketing, and more than 400 brands are associated with this New York-based startup. Some of its clients are Express, Staples, Blue Nile and Sephora.
The company was formed in 2013 with the idea to power simple triggered emails for e-commerce.
Since then the company has grown into providing core services to the retail sector. Considering the fact that today’s shopper psyche has changed and the world shopping scenario is gradually shifting toward online shopping, Bluecore provides the necessary help to retail marketers through its platform. Decision-making becomes easier for marketers, as they are able to extract high-value insights and personalized product recommendations in seconds. Bluecore also helps marketers use the audience data to make recommendations based on recent purchases.
“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 e-commerce and retail brands, including Shopify, Jet.com, Casper and Pinterest.”
The company has doubled its customer base in just 18 months, which is a significant achievement. It also rebranded itself as a real-time interaction management company at the beginning of the year.
Mohamood also said, “We’ve captured 47 billion real-time behavioral events, driven over $1 billion in customer revenue across 230 million transactions and processed a total product catalog larger than Walmart’s, and second only to Amazon’s, at 120 million products. Along the way Bluecore has processed data from orders totaling more than $20 billion in gross merchandise value.”
This new funding will stimulate Bluecore’s growth by speeding up the delivery of its platform to customers and enabling additional product development.