Smarter Remarketer Gained $7 Million From Battery Ventures.
An Indianapolis based startup who delves into SR2 Big Data platforms and provide e-commerce sites with controlled intelligence on customer searches and buying habits, Smarter Remarketer was bought by the only investors willing to give them the light of day. That Investor name would be Battery Ventures.
Howard Bates, chief executive of Smarter Remarketer, had finally manage to sweat something about between negotiations with Battery after a long talk over the tranche of funding. he commented on this by saying. “We were so happy to get the validation from Battery. Their due diligence process is exhausting.”
Smarter Remarketer launched as their startup back in 2010 with only $4.2 million from generous angel investors and their main expert in retail marketing and co-founder Angel Morals. The company employs over 27 people and has enjoyed a 300 percent increase in less than its four years, and has bagged retail giants Eddie Bauer, Hugo Boss, and Skymall as their clients. By charging licensing fees for their software, Smarter Remarketer have made this one of their main source of income.
The startups software has been mentioned to be able to extract and analyzes what is called “texturalized” data on various consumers based on their behavioral patters when searching e-commerce sites. This data is used to be shared with their clients who enjoy spying on their clients to receive and idea of how they think and what they wish to buy the most.
“Our engine creates data sequestration profiles that enable customers to make extremely complex campaigns for retailers based on their customer’s buying habits,” Bates said. “We’re building very sophisticated (profile) models for the web’s retail environment.”