Retention Science Launches with $1.3m Fund

Big data platform Retention Science has been launched today in the US, with $1.3m in investment funding.

Founded by Jerry Jao and Andrew Waage, the firm's Customer Profiling Engine uses statistical modeling to build optimization strategies for custom retention.

The platform has been designed to reactivate customers before they churn to a competitor, or simply lose interest in the company's products or services. Analytics are performed in real-time to ensure an up-to-date basis for predictions of customer behavior.

The company also collects customer demographic, social and behavioral data and merges it with real-time web viewing patterns and purchase history to predict the most relevant campaigns, and enable clients to target offers based on a customer's unique characteristics.

Funding comes from a number of sources including Baroda Ventures, Mohr Davidow Ventures, Double M Partners and a group of angel investors, as well as data scientists from companies including LinkedIn, PayPal and IBM.

Jao comments: 'Some of the biggest e-Commerce players are seeing substantial rewards after they made investments in retention marketing and big data analytics. We are meeting the mid-market demand for a customer retention platform that can drive tremendous growth in existing customer spending.'

Web site: www.retentionscience.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.