Reflektion, a marketing startup that uses predictive analytics to increase conversion rates on ecommerce sites, has raised $ 12 million to support its plans for international expansion. The new financing is an extended series B run by Hasso Plattner, with the participation of return investors Battery Ventures and Clear Ventures.
Reflektion has now raised $ 41.3 million since its inception in 2012 by Chief Technology Officer Amar Chokhawala, a former Google engineer who was one of the first members of the AdSense team.
The company claims that its software, now used by 70 brands including TOMS, Ann Taylor and Sur La Table, can result in a double-digit increase in conversion rates and average order value by customizing search results and product recommendations. buyers see
This new capital will be used to improve search tools for sites, search photos and automated emails based on the purchasing behavior of each customer, and to develop its activities in Europe, in the Middle East and Africa. The region currently accounts for 10% of Reflektion 's turnover and counts among its customers Hepsiburada, the largest e – commerce platform in Turkey. Marketing Director, Kurt Heinemann, explains that Reflektion's growth markets are the UK, France and Germany, and that it is also targeting new customers in Japan and Australia.
Reflektion is one of many marketing startups, including Dynamic Yield and AntVoice, that use machine learning to help e-commerce businesses tap into ever-increasing amounts of customer data. Its tools build customer profiles by mapping their purchasing preferences and behavior, while adding more attributes and data points to product files so they are better suited to features like as natural language processing and photo searches.
Heinemann claims that some of Reflektion's successes include a 24% increase in the conversion rate of the Godiva brand of chocolate and a 26% increase in the conversion rate of the O Neill brand of surfwear. % of its page views.
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