Retention Science Gets Funds for Big Data Expansion

In the US, big data specialist Retention Science has raised $750k in new funding, adding to the $1.3m it received in a seed round last year.

Based in Santa Monica, Retention Science uses big data algorithms and statistical models to predict customer behavior and create personalized customer campaigns. Its 'Customer Profiling Engine' uses analysis of the customer lifecycle to identify the best times to re-engage customers with individually tailored offers.

The company launched last year with funding 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. New financing comes from early-stage venture capital firm Forerunner Ventures, and the funds will be used to expand the product development and sales teams.

CEO Jerry Jao (pictured) comments: 'After receiving and evaluating over 20 inbound requests from potential investors, we decided to partner with Forerunner - based on its unparalleled expertise in the e-commerce space. Forerunner has the knowledge and expertise to help us scale quickly, ensuring we can effectively capitalize on the enormous opportunity in front of us and solidify our position as the leader in customer retention and big data for retail.'

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.