Retail tech unicorn Bluecore secures $125m in Series ERetail tech unicorn Bluecore secures $125m in Series E
The likes of Gap and Foot Locker use the company’s platform to keep customers coming back
August 10, 2021
New York-based online marketing specialist Bluecore has closed a $125 million Series E funding round, led by Georgian.
The latest round brings the company’s total funding to $225 million, and its valuation – to $1 billion.
“We’re in an era of Personal Commerce, where retailers are no longer competing solely with other brands; they’re competing with every other digital experience, too,” said Bluecore CEO Fayez Mohamood.
"As a result, shoppers expect the same level of 1:1 curation from retail brands that they're getting from platforms like Netflix, Spotify, and other exceptional experiences."
Adds item to basket, checks subtotal, closes tab
Mohamood established the business in 2013, working with both direct-to-consumer (D2C) retailers and enterprise-grade retailers like Gap and Foot Locker, helping them design personalized mass-marketing communications.
Suggesting that retail has shifted to a 50/50 online-offline split over the last two years, Bluecore claims that marketing that focuses on the entire customer lifecycle is "the most influential lever brands have to drive ecommerce growth, whether as part of an omnichannel strategy or a pure-play direct-to-consumer model."
Its predictive retail AI platform combines three “traditionally disconnected” data sets – shopper identities, behavior, and product catalogs – and then acts on the volume and variety of real-time signals from the shopper to try and secure customer loyalty.
The platform can use first-party data to predict and execute the exact experience a shopper should receive across various digital channels, including email, e-commerce websites, and social media ads.
The system can also help make brands more informed merchandising and pricing decisions, and forecast supply chain logistics, Bluecore says.