E-commerce solutions platform Reflektion has raised $18 million in Series B financing from a group led by Battery Ventures. Hasso Plattner Ventures and Intel Capital also participated, along with a group of private investors including Marc Benioff and Ray Lane.
The funds will be directed toward customer acquisition, product development and international expansion.
Reflektion developed a predictive analytics platform which captures, analyzes and responds to individual shopper preferences in real-time. It claims conversion lifts of more than 20 percent for clients including Godiva, Converse and the Walt Disney Company.
Battery General Partner Dharmesh Thakker explains his firm’s participation.
“We have been impressed with Reflektion’s practical application of deep learning and artificial-intelligence techniques to assess customers’ intent and enhance their online experience in real time. By leveraging cutting-edge, open-source platforms in the big-data arena, Reflektion is fundamentally driving Individualized Commerce and delivering stunning ROI for retailers.”
Mr. Thakker joins Steve Papa and Eduardo Castro-Wright on Reflektion’s board.
It did not take long for Reflektion to make its mark, CEO Sean Moran said.
“Reflektion has already demonstrated a dramatic impact on e-commerce through more than two billion personalized shopping experiences in 2015. Today we are converting more traffic on our clients’ websites to customers.”
“The next step is to improve the quality of that traffic and deliver each consumer a seamless off-site to on-site to in-store experience.”