What Company Is Offering:
richrelevance powers next-generation merchandising and personalized recommendations on eCommerce sites. The company’s product outperforms collaborative filtering solutions through use of more than fifteen recommendation types combined with transparent messaging, continuous optimization, and merchandiser controls. The company is privately held and headquartered in San Francisco, California.
How Much They Got From VCs:
richrelevance, which powers next generation personalized recommendations for eCommerce businesses, announced that the company has raised $4.2 million of Series B venture capital financing from Greylock Partners and Tugboat Ventures. This funding follows on the heels of a Series A round from Draper Fisher Jurvetson, Draper Richards and select angel investors.
“For eCommerce businesses, we have entered a period where there is tremendous pressure to increase the value of every customer visit. Personalized product recommendations–done right–offer incredible sales lift,” said richrelevance Board Member Ellen Siminoff, Board Chairman of Efficient Frontier and former SVP at Yahoo. “It makes sense that the person who led Amazon's Personalization R&D team is now delivering on this promise.”
More at:www.airfoilpr.com
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