Bluecore, an AI-based retail marketing automation platform, closed a $50 million Series D funding round.
Existing investor Georgian Partners led the round, with participation from FirstMark and Norwest.
Including the latest funding round, Bluecore has raised more than $100 million to date.
The company plans to use the new funds to accelerate its work in machine learning and artificial intelligence.
Over the last four years, Bluecore has developed and released fully automated AI-powered email marketing applications. The company’s AI applications can auto-generate completely personalized email campaigns by curating products, content, and offers, specific to each shopper a brand interacts with.
Bluecore’s AI additionally responds autonomously to implicit consumer feedback on, and preferences around, frequency and type of communications shoppers want to receive from retail brands. Clients include Jockey, Lane Bryant, Hammacher Schlemmer, Express, Tommy Hilfiger, The North Face, Teleflora, and Bass Pro Shops.
In 2019, Bluecore migrated to a success-driven pricing model, where clients pay solely based on traffic and conversions generated by the AI.
Over the next 12 months, Bluecore will unveil new capabilities, such as the ability to use what it learns about product trends across more than 400 hundred brands’ live product catalogs to improve experiences on an individual retailer’s digital channels. Informed by 100 billion+ consumer interactions and 200 million+ products, the new AI application will learn and predict which product is most likely to drive a purchase by a specific individual. It will then autonomously trigger the next-best-action for a given shopper, no matter where he or she is shopping at the moment.
Image Credit: Bluecore