Bluecore, a data and automation platform for e-commerce brands, just closed a $21 million Series B round led by Georgian Partners. Other existing investors, including FirstMark Capital and Felicis Ventures, also participated in the round, which boosts the company's total funding to $28 million.
Fayez Mohamood, Bluecore co-founder and CEO, said the money will be used for growth and geographic expansion. The company has plans to grow both domestically and abroad, as well as to more than double its workforce and increase the volume of data it can manage. Mohamood expects the number of employees to expand from 60 to 130 within the next year.
“We plan to invest in people across engineering, sales and data science, and to build our technology infrastructure to scale how we ingest and analyze terabytes of customer data,” Mohamood told CMSWire.
Marketing and E-Commerce
New York City-based Bluecore builds marketing automation software designed to simplify the process of ingesting terabytes of behavioral data and automatically taking action on precise insights, driving engagement and conversion rates that defy industry standards.
With it, the company claims, marketing departments can drive higher than average engagement and conversions.
Specifically, the software enables e-commerce marketers to quickly create and distribute personalized emails and dynamically react to customer behaviors and other changes.
“Fundamentally, most components found in the enterprise marketing stack were never conceived to handle the volumes of behavioral data that customers produce,” Mohamood said.
Using Live Segments
One of its products, Live Segments, enables marketers to personalize and segment mailing lists. The product drives speed and precision because marketers have direct access to necessary data and tools, he added.
Mohamood said Bluecore has already signed 180 brands across 150 websites, including Staples, Cabela's, Express and Under Armor.
During the coming year, he added that Bluecore will continue to focus on email and the e-commerce sector while exploring opportunities in new verticals, including travel and automotive.
It will also be looking at new marketing channels, including display and mobile, as part of its geographic expansion.