Everyday several new start-ups and ventures emerge to float their services or products and earn handsome profits in exchange. In contrast to them, BloomReach offers unique services to online businesses, so they themselves can attract more buyers and sell their products easily more easily.
It is because of how effectively the start-up is able to provide these distinctive services that BloomReach has been able to collect $25 million earlier this week from a Series C round held by New Enterprise Associates (NEA). With this collection the total in venture capital funding raised by this company has touched the $41 million mark, which is incredible considering that BloomReach started its operation mere months ago.
The CEO of BloomReach, Raj De Datta explained the secret behind his company’s success is that before the inception of their company, online retailers did not know how to perfectly exhibit their product catalogues to match how buyers search. Due to this line-up issue, 80 percent of the current web pages are not getting any traffic even with the help of paid search. With the passage of time this problem seems to be getting more critical because more and more data is coming online every day.
Moreover, “Understanding relevance of content to the way people express themselves turns out to be a difficult problem,” says De Datta.
Although, big companies like Wal-Mart and Amazon finally found an answer for this problem, as they were able to lure customers by aligning their products according to clients search pattern they did not make their technologies commercially available.
So to sort this dilemma, BloomReach came into being and through their Web Relevance Engine and Big Data marketing applications they started assisting online retailers. Their Web Relevance Engine help increase conversations, clicks as well as traffic, whereas Big Data marketing applications smoothly display retailers’ relevant content to long-tail customers. In this way retailers finally been able to confine their demand and boost sales.
Source: Gigaom
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