RichRelevance Raises $4.2 Million in Series B Funding

Investment to Support Additional Solution Innovation and Partnership Development

San Francisco, Calif. – April 8, 2008 – RichRelevance™, which powers next generation personalized recommendations for eCommerce businesses, announced today that the company has raised $4.2 million of Series B venture capital financing from Greylock Partners and Tugboat Ventures. This funding follows on the heels of a Series A round from Draper Fisher Jurvetson, Draper Richards and select angel investors.

“For eCommerce businesses, we have entered a period where there is tremendous pressure to increase the value of every customer visit. Personalized product recommendationsdone rightoffer incredible sales lift,” said RichRelevance Board Member Ellen Siminoff, Board Chairman of Efficient Frontier and former SVP at Yahoo. “It makes sense that the person who led Amazon’s Personalization R&D team is now delivering on this promise.”

“RichRelevance’s recommendations go beyond existing collaborative filtering solutions and provide a powerful way to enhance customer satisfaction while driving sales lift,” said RichRelevance CEO and founder David Selinger. “With our SAAS model, we deliver our next-generation solution quickly and easily, everything from multiple recommendation sets on every page of a site to our intuitive dashboard—yielding significant bottom-line value with minimal integration. The Series B funding is an exciting stage in our company’s growth and it will give us additional resources to serve our customers and partners.”

RichRelevance is led by veterans from Amazon, Overstock, eBay, MySpace, and ATG, who collectively have more than 30 years of experience in personalization, online commerce, data analysis and web products.

As part of the investment, David Whorton of Tugboat Ventures and David Strohm of Greylock Partners joined the RichRelevance Board of Directors.

RichRelevance powers next-generation merchandising and personalized recommendations on eCommerce sites. The company’s product outperforms collaborative filtering solutions through use of more than fifteen recommendation types combined with transparent messaging, continuous optimization, and merchandiser controls. The company is privately held and headquartered in San Francisco, California.

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This post was written by RichRelevance

ABOUT RichRelevance
RichRelevance is the global leader in experience personalization, driving digital growth and brand loyalty for more than 200 of the world’s largest B2C and B2B brands and retailers. The company leverages advanced AI technologies to bridge the experience gap between marketing and commerce to help digital marketing leaders stage memorable experiences that speak to individuals – at scale, in real time, and across the customer lifecycle. Headquartered in San Francisco, RichRelevance serves clients in 42 countries from 9 offices around the globe.
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