Revmetrix Raises $2.2 Million Series Seed Round to Move Retailers into the Age of Big Data Washington, DC – February 19, 2015 - Revmetrix today announced it has secured $2.2 million in seed funding to debut the first omnichannel data platform for retailers. Revmetrix helps retailers leverage their own customer data to paint a detailed picture of customer behavior as it spans across multiple channels and devices. By doing so, Revmetrix enables retailers to build better, smarter interactions at every point of engagement for their shoppers. Philadelphia-based Genacast Ventures (affiliated with Comcast) and Boston-based .406 Ventures co-led the seed round.
“Today’s shoppers will browse a product on their smartphone, read reviews on their iPad, and then make a purchase in-store,” said David McBride, most recently Senior Director of Omnichannel Analytics at American Eagle Outfitters. “However, retailers keep data from those interactions in different internal systems and have no way of knowing they came from a single customer. Revmetrix gives retailers a complete view of all customer engagement, while cataloging every visit, every view, every click and every purchase - regardless of whether they were in-store, online or on their mobile device.”
The Revmetrix platform allows retailers to:
- Collect and uniquely identify interactions from a single customer as he or she engages with a retailer, regardless of whether they are in-store, online or on their mobile device, and store each interaction in a detailed customer profile designed specifically for retail.
- Build complex queries across the datastore of customer profiles, interactions, segments, locations and products to gain unique insight into the behavior of shoppers.
- Create highly-targeted audiences that are built around customer engagement with that specific retailer, based on transparent, first-party data.
- Leverage connections to dozens of marketing platforms including email, display advertising, direct mail and social to create integrated marketing campaigns that improve a customer’s omnichannel experience and ensure repeat business.
“Until today, there has not been an effective option for retailers to maximize their potential in omnichannel retailing,” said Greg Dracon, Partner at .406 Ventures. “Solutions have been limited to bloated data warehousing solutions or outdated CRM solutions. Revmetrix has created an automated customer intelligence platform unlike any other and retailers now have actionable visibility that will optimize their omnichannel business.”
“Revmetrix addresses big data analytics challenges unique to retailers, offering a far better and more cost-effective option than existing systems used today,” said Hemang Gadhia, Co-founder and CEO of Revmetrix. “With Revmetrix, retailers can quickly capitalize on customer segmentation and engagement opportunities through real-time insight and omnichannel visibility.”
Additional investors in the Revmetrix seed round include Jerry Neumann of Neu Venture Capital, Millennial Media (NYSE: MM) co-founder Chris Brandenburg, Clarabridge co-founder Sid Banerjee, Higher One (NYSE:ONE) co-founder Sean Glass, and a host of other angel investors.
Revmetrix Pilot Program Revmetrix is working with several big-name retailers to get them enrolled in the pilot program for the Revmetrix Platform. Retailers interested in participating can request more information by contacting Revmetrix at email@example.com.
About Revmetrix Revmetrix is an innovator in omnichannel customer intelligence for retailers, founded by serial entrepreneurs Hemang Gadhia and Christopher Brown. Both Hemang and Christopher have previously founded and exited technology startups in the data intelligence and analytics space. The Revmetrix platform seamlessly brings all retail customer information together in one place to make it easily accessible and actionable, enabling retailers to ensure customer satisfaction and loyalty on an ongoing basis. Revmetrix is based outside of Washington, DC. For more information, visit www.revmetrix.com.