January 29, 2016, 10:43 AM

Personalization vendor BloomReach raises $56 million

BloomReach plans to use the money to hire data scientists and grow internationally.

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Personalization software vendor BloomReach Corp. has raised $56 million in Series D funding from venture capital firms and companies with cloud-based technology.

The new funding round includes investments from Bain Capital Ventures, Battery Ventures, Lightspeed Ventures, New Enterprise Associates, Salesforce Ventures and an unnamed sovereign wealth fund. BloomReach also says it is adding Marcus Ryu, CEO and co-founder of software as a service vendor Guidewire Software Inc., to its board. Software as a service companies are vendors that host software that clients access via the web.

BloomReach will use the funding to hire more data scientists and technical staff, and increase its sales and marketing globally to scale the business, says BloomReach chief marketing officer Joelle Kaufman. “We also plan to invest in our applications to enhance and add new features in addition to expanding our market reach to all digital commerce companies,” she says.

The latest round brings BloomReach’s total funding to $97 million since its founding in 2009.

BloomReach’s software is designed to adjust product recommendations, site search results and navigation elements on retail clients’ web and mobile sites to fit each shopper’s preferences. BloomReach says it has more than 175 customers, including 171 retailers, 56 of them in the Internet Retailer Top 500. They include Carter’s Inc. (No. 128 in the Top 500), Neiman Marcus (No. 43) and Sears Holdings Corp.’s (No. 5) Hometown outlets.

 

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