TargetingMantra Closes First Funding Round

India-based personalization specialist TargetingMantra has raised $1.1m in an initial round of funding, which it will use to expand its 'Amazon-like' targeting service, while developing new products.

Founded in 2012 by Saurabh Nangia and Rahul Singh, TargetingMantra offers an SaaS platform to enable e-commerce and other online businesses to understand user behavior across the web and mobile devices, and use that information to cross-sell and up-sell products. In addition, the platform can be used to examine the behavior of existing customers, in order to predict who will be interested in buying which product.

Nangia comments: 'Customers today face the problem of plenty with respect to the choices in online-purchase space, which results in customer fatigue and hampers buying decision. Personalisation not only helps a company increase conversion rate, but also helps in building customer loyalty and increasing the average order value.'

New funding has been led by Nexus Venture Partners, 500 Startups, One97 Mobility Fund, and a group of angel investors including Google India head Rajan Anandan and Groupon Asia head Ankur Warikoo, and follows seed funding of $100k.

Web site: www.targetingmantra.com .