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Bluecore has attained the unicorn tag in a Series E funding round where it netted $125M at $1B valuation. The company aspires to use the proceeds towards accelerating e-commerce product development and investment in AI and analytics
Bluecore, a marketing technology company that leverages predictive intelligence to transform the retailer-shopper interaction, has attained the unicorn tag after raising $125 million in a Series E funding round led by Georgian at a valuation of $1 billion, a press release from Bluecore said.
The Series D funding for Bluecore came in May 2020, where it netted $50 million from Georgian. This time, Georgian has doubled its investment in the company, taking its total funding to date to over $225 million. Other existing investors – FirstMark and Norwest and new investor Silver Lake Waterman – participated in the Series E round.
Bluecore, founded in 2013, helps connect shoppers to the products, contents and offers using its predictive intelligence AI platform that helps retailers identify shopper identity, shopper behavior and which products they engage with. It is positioned at the core of retailers’ digital marketing stacks, predicts and acts on the experience a shopper should receive across owned and paid digital channels, including email, ecommerce websites, and social media and search ads.
Fayez Mohamood, co-founder and CEO of Bluecore, stated that it is the era of personal commerce today, where retailers are competing with other brands and every other digital experience together. He added that shoppers expect the same level of curation from retail brands that they get from platforms like Netflix, Spotify and other exceptional experiences.
We’ve spent the past eight years building for this inevitable moment where all retailers are driving growth through ecommerce. Our role will always be to predict the industry’s shifts so we can guide retailers’ through ongoing transformation.Fayez Mohamood, co-founder and CEO of Bluecore
Bluecore said that it would use the proceeds from the funding to accelerate its e-commerce product development and investment in AI and analytics. Tyson Baber, lead investor at Georgian, expressed excitement at being a part of Bluecore’s ongoing success journey and added,
Bluecore has been building towards this current moment in commerce since Georgian first invested in 2015. It’s incredible to see the firm’s vision realized as online shopping has moved from an increasingly popular trend to the default mode of commerce for many people.Tyson Baber, lead investor at Georgian