Groupon says its focus is on the bottom line, rather than top-line growth.
Steelhouse enables e-retailers to customize offers based on online shopping behavior.
SteelHouse’s technology enables retailers to present online shoppers with personalized, offers based on buying behavior and shopping history, along with targeted ads presented after shoppers leave retailer sites. Clients include Canada-based flash sale site Beyond the Rack, No. 191 in Internet Retailer’s Top 500 Guide; Cooking.com Inc., No. 188; and Musician’s Friend Inc., No. 44.
Greycroft Partners, Rincon Venture Partners and Lighthouse Venture Group led the funding round.
“SteelHouse’s personality-powered, Behavioral Commerce platform is finding an eager audience of online retailers that need to connect with shoppers more deeply and faster than ever before,” says Dana Settle of Greycroft. “SteelHouse makes innovative leaps further and faster than anyone in this space, and that ability compels e-commerce sites to use SteelHouse’s solutions to stay ahead of the competition.”
SteelHouse plans to use the funds to develop its technology. “The next 12 months will be the most exciting year in our company’s history,” says Mark Douglas, SteelHouse’s CEO.