Bluecore today announced a $21 million Series B round to expand its workforce and enhance its marketing technology. Wednesday's announcement also celebrates a tremendous period of growth for
Bluecore, which has added $1 million in annual recurring revenue (ARR) every 45 days.
Bluecore’s success lies in its ability to effectively handle massive volumes of data. It helps
retailers increase email engagement by leveraging and capitalizing on real-time behavioral customer data in conjunction with a brand’s product catalogue.
“The value of
personalization is undisputed,” says Fayez Mohamood, CEO of Bluecore. “The question is less about whether one should personalize content, but far more about how. Traditional marketing
stacks shove data, the key component of personalization, into silos that are nearly inaccessible to marketers. Giving marketers direct access to a platform that analyzes and takes action on terabytes
of behavioral data on the fly makes email personalization a reality.”
Bluecore plans to double its current roster of 60 employees to 130 by the end of 2016, and Mohamood says an
investment focus will be technology infrastructure and how the company can scale how it ingests and analyze terabytes of customer data.
Additional investments will be made across
engineering, sales, data science, and for international expansion.
Mohamood says Bluecore will continue to have a focus on email and eCommerce, but will also explore opportunities in new
verticals and marketing channels, such as display and mobile.
Today’s Series B round was led by Georgian Partners and included previous Bluecore investors FirstMark Capital and Felicis
Ventures. It brings Bluecore’s funding up to $28.2 million since 2013.