Martech firm that uses data derived from direct marketing pathways like social media, email, site activity, and combines the same with AI and ML for making better predictions about the targeted audience set, Bluecore, has announced that the company has secured $50 million in this big round of funding. The martech news space has highlighted the creative use of AI technology for better targeting and segmentation.
The company will be seen using this investment for building the next-gen platform of its current solution. The new platform, which will be seen tapping into aggregate engagement data from multiple companies and brands, is expected to roll out later this year. This data can be utilized by the consumers by combining their own first-party data with it, depending on first-party, consent-based customer IDs for building insights for better targeting.
Fayez Mohamood, the co-founder and CEO of the company explained that a number of systems available in the market that put their focus on transactional as well as customer data, but there is no system or solution that puts the focus on the product as well as product catalog which are the key assets. Fayez stated that the organization manages more than 200 million products and SKUs being second to Amazon and larger than Walter. The company can provide its users with insights on what the targeted consumers might desire or want despite the fact that they have never engaged with the offered specific products.
Georgian Partners is leading the Series D round and participation of Norwest and FirstMark is also being witnessed. The total raised funding of the company now has gone up to $100 million.
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Chandrima is a Content management executive with a flair for creating high quality content irrespective of genre. She believes in crafting stories irrespective of genre and bringing them to a creative form. Prior to working for MartechCube she was a Business Analyst with Capgemini.