Unbxd Inc is a company, which is currently working on a product recommendation platform for use by e-commerce companies. This is a new area in the country which has seen a lot of growth in the adoption of e-commerce and mobile commerce. Using data to figure out product recommendation will definitely make the lives of e-commerce companies easier as it will improve their ROI on the basis on intelligent recommendations.
The Bangalore based company has announced that it has raised $2 million in a Series A funding round from IDG Ventures and Inventus Capital Partners. It says that the money will be routed towards expansion of operations to international markets (North America and Singapore) and also towards research. The deal gives Venkatesh Peddi from IDG and Rutvik Doshi from Inventus board seats in the company.
Unbxd began operations in late 2011 and was founded by Pavan Vilas Sondur and Prashant Kumar. The startup raised an undisclosed amount from the Indian Angel Network last year.
Speaking about the funding, Sondur said,
“E-commerce has seen tremendous growth globally with conversion optimisation emerging as a key focus area for online businesses which already face tremendous pressure due to high operating costs. Moreover, with Unbxd, businesses can improve their marketing ROI without increasing their marketing spend at all. We see this funding as critical to our expansion plans with a focus on increasing the customer base along with the development of products.”
Their Smart Engage platform that the company offers is arranged into 4 different tools which tackle individual aspects. For example, Pulse gives an understanding user behavior and thus new insights. Greyhound is a tool which enables your prospective buyers to get context aware and personalized search results. Navigator sorts out your product categories based on the the probability of customer interest and purchase. Connect is a tool which enables one on one personalized conversation between the customer and the company.
This suite of services seems to be a good one for e-commerce players who are currently looking for ROI after having taken hits to get sustained traffic to their portals.
Website | Unbxd
Source | Techcircle