Proclivity Systems, a provider of technology for marketing and merchandising to online consumers based on their shopping behavior, has received $5.5 million in Series B funding led by Fung Capital USA Fund (II) L.P.
Proclivity says it will use the funds to enhance its technology platform, expand its management staff and increase sales by entering new markets. The company’s “revenue optimization platform,” also called Proclivity, is designed to provide marketers and merchandisers foresight into what customers are likely to buy at particular times and at particular price points based on past shopping behavior.
Proclivity incorporates dynamic shopping interests, purchasing likelihoods, and expenditure levels of consumers into recommendations to drive any potential marketing offer, the company says. Its Proclivity Mail product uses consumer behavior data to forecast consumer buying behavior around e-mail marketing campaigns.
Fung Capital was joined in the financing by investors WPP, which is a global provider of marketing and communications services, and Pilot Group, a private investment firm whose clients include America Online. Other investors from Proclivity’s Series A funding also participated in the Series B funding.
"Most digital marketers, and e-commerce merchants in particular, have more data than they know what to do with," says Mark Read, CEO of WPP Digital. "The Proclivity platform enables them to extract insights from their data that can dramatically improve the effectiveness of marketing programs across any number of channels by combining complex algorithms with clear interfaces so that marketers can develop campaigns simply and effectively."
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