DMinSite will offer RichRelevance’s personalization and recommendation solution to its client base
San Francisco, Calif. – May 1, 2008 – RichRelevance™, which powers next generation personalized recommendations for eCommerce businesses, announces its partnership with DMinSite, a managed eCommerce software provider that helps multi-channel clients improve online sales performance. Through RichRelevance’s easily integrated flagship product – RichRecs – DMinSite’s eCommerce clients will benefit from personalized recommendations proven to lift sales and customer conversion rates while enhancing the shopping experience.
“I’ve seen many sophisticated-sounding, slick-looking eCommerce products fail to produce results in the field. RichRelevance stands out because they not only use advanced marketing and modeling techniques, but they produce real world results,” said DMinSite CEO Larry Kavanagh. “RichRelevance chooses from 15 different recommendation strategies to determine the most effective recommendations – in effect, they create personalized navigation for every shopper.”
“We deliver a shopper-centric experience that allows customers to find items relevant to their interests – often times more quickly than search or browse. In just a few clicks, customers can find more of what they are looking for,” said RichRelevance CEO and Founder David Selinger.
To test the power of RichRelevance, DMinSite conducted a head-to-head split test comparing collaborative filtering-based recommendations to RichRelevance’s next generation personalized recommendations. “Sales per visitor jumped up by 10-15% with RichRelevance,” added Kavanagh. “We’re excited to offer RichRecs to our customers and make it a part of our integrated eCommerce solution going forward. “DMinSite is a fantastic partner for RichRelevance,” noted Selinger. “Their core value to their eCommerce customers is increasing sales above and beyond the industry average—that’s what next generation personalized recommendations are all about.”
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.
DMinSite is a Software-as-a-Service-Plus (SaaS+) provider that builds and delivers a suite of e- commerce, search and email solutions. We’ve helped our clients grow web sales at a rate that’s more than double the industry average for seven years in a row. DMinSite’s Mercury 6.0 software offers e-retailers an enterprise class, feature-rich web selling platform that significantly out-performs platforms that cost two to four times as much. We built into Mercury, and into our other complimentary software products, marketing intelligence that allows our clients to quickly and easily employ sophisticated e-commerce strategies. The SaaS model allows us to continually and frequently make new selling features available to our clients. We supplement our software with e-commerce marketing recommendations and consulting, providing the “plus” in SaaS+. New clients commonly see a 50% -100% increase in web sales in their first year of working with DMinSite, resulting in a 90+% customer retention rate since the company was founded in 2000.
If Amazon would have spun off its recommendation engine to Web publishers and retailers years ago, the company might have pre-empted the spate of new up-and-comers with similar technology.
Richrelevance, a provider of personalized recommendations for e-commerce businesses, announced on Tuesday that it has raised a $4.2 million second round of venture capital financing, from Greylock Partners and Tugboat Ventures.
Richrelevance, a new San Francisco company offering personalized recommendations for online shopping businesses, has raised $4.2 million in a second round of financing.
The company joins a host of other companies — including Amazon, Aggregrate Knowledge and Wunderloop (see our coverage ) — that track what decisions you make while shopping online. Like these other companies, it then peers into its archives to find other users who have made similar decisions to you, so that it can recommend to you things that people with similar tastes have also bought.
In its second round of venture funding, Richrelevance raised $4.2 million.
The San Francisco company makes a customer recommendation system for businesses that sell things online.
Richrelevance, a new San Francisco company offering personalized recommendations for online shopping businesses, has raised $4.2 million in a second round of financing.