San Mateo, CA-based online retail analytics firm Reflektion has raised $8m in a Series B round of funding. Money will be used to roll out eCommerce and business intelligence solutions, while supporting existing clients and expanding sales and marketing activities.
Founded in 2012 by Google veteran Amar Chokhawala, Reflektion provides a predictive analytics platform for retailers and brands through a Software-as-a-Service (SaaS) model. Using machine learning and proprietary algorithms, the platform is able to detect trends and predict what each customer is likely to buy, enabling companies to drive sales and customer engagement through real-time recommendations, dynamic discounting and mobile optimization.
New funding has been led by Intel Capital, Nike and several private investors, and brings the total raised to date to $11.3m. Christiana Shi, Nike Direct to Consumer President, commented: 'We're impressed by Reflektion's technology and the potential its personalization capabilities offer to further enhance our consumers' online experience.'
Web site: www.reflektion.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.