Retail marketing technology platform Bluecore procured $35 million in Series C funding on Wednesday, with plans to funnel the financing into company growth and product development.
The financing was led by Norwest Venture Partners and included participation from existing investors Georgian Partners, FirstMark Capital and Felicis Ventures. Scott Beechuk, a Salesforce veteran and partner at Norwest Venture Partners, will join Bluecore’s board of directors.
Bluecore was founded in 2013 as an email marketing company that helped retail brands with triggered emails. It has since grown into a marketing and analytics suite dedicated to the retail sector.
Bluecore specializes in retail marketing, and its clients include Sephora, Express, and Staples. Bluecore’s platform offers retailers a holistic view of customers’ identity and their onsite behaviors in conjunction with the brand’s product catalogue.
The company claims to have captured 47 billion real-time behavioral events and driven over $1 billion in customer revenue across 230 million transactions.
Bluecore has been growing quickly, doubling its customer base in 18 months. It also rebranded as a real-time interaction management (RTIM) company at the beginning of the year.
Jewelry retailer Blue Nile powers its email marketing campaigns with Bluecore, utilizing the platform to send more relevant messages.
“We first used Bluecore to send triggered price reduction messages to customers who were deep in our diamond shopping funnel,” states Jon Sainsbury, chief strategy officer at Blue Nile, adding that the results enabled the retailer to "send fewer messages at significantly increased revenue per send.”