US Based BloomReach Raises $25 Million in Series C Funding; Pumps Up India Operations
BloomReach, creators of big data marketing applications, today announced $25 million in Series C funding, led by US Venture Capital Partnership New Enterprise Associates (NEA). Existing investors, including Lightspeed Venture Partners and Bain Capital, also participated in the third round, bringing BloomReach’s total funding to $41 million to date. BloomReach plans to double its investment in sales and marketing and triple its R&D investment in the US and India to create big data applications beyond search for every online marketing channel including mobile, social, and video.
Building on the opening of their India Development Center in early 2012, the funding will enable BloomReach to grow their investment in the Development Center by 500% to accelerate its penetration of the burgeoning big data applications space. Investors are excited by the proven US-India joint development teams collaborating around the clock to introduce Big Data Marketing applications for new markets and channels.
“By empowering companies to channel the morass of Internet data into sales conversions and revenue growth, big data applications are the natural evolution of the Software as a Service (SaaS) model,” said NEA general partner Scott Sandell. “The next wave of SaaS leaders will combine the delivery-model benefits of cloud with web-scale data and machine-learning technologies. NEA’s investment in BloomReach builds on our long history of partnering with disruptive SaaS companies like Salesforce.com, WebEx and Workday. In harnessing the potential of big data to revolutionize SaaS, BloomReach is an example of what’s possible.”
BloomReach’s big data applications connect marketers and consumers by interpreting web content and predicting online demand, and then they automatically adapt web pages to present the content that makes the page most relevant to the broadest range of demand for its products or services. BloomReach represents a fundamental shift in how marketers attract and acquire customers: using big data, natural language processing and machine learning.
On average, BloomReach generates an average 92 percent lift year on year in non-branded, natural search traffic and improves paid search profitability by up to 50 percent by making the user experience as relevant as possible to consumers’ intent.
“The future belongs to marketers that extract the maximum impact from the content they continuously create. India is an exciting market not only for its exceptional engineering talent, but also as an emerging eCommerce market and BloomReach is funded to aggressively invest in attracting the best talent and ultimately serving Indian marketers. BloomReach delivers the most relevant content at the right moment and drives brand awareness.” said Raj De Datta, CEO and co-founder of BloomReach.
“The India Development Group of BloomReach is at the forefront of Big Data Marketing innovation – creating new products for new channels and new markets,” commented Vinodh Kumar, Head of BloomReach India. “As BloomReach grows, we look forward to investing in top talent and creating products that serve new geographies, including India itself.”