The funding helped Bluecore reach a valuation of $1B. Here are the top-line bullets you need to know.
Bluecore, an e-commerce personalization platform, has raised $125M in a Series E. The round drew participation from Georgian Partners, Silver Lake, FirstMark Capital, and Norwest Venture Partners.
HOW’S THE COMPANY PERFORMING?
- New York-based Bluecore is an e-commerce personalization platform that helps direct-to-consumer (D2C) retailers connect with shoppers across various channels.
- The company reportedly has $10B in gross merchandise value, with more than 500M customer IDs and an additional 140,000 multi-time buyers. The platform has over 300M listed products and caters to more than 400 retail brands, including Gap, Nike, Tommy Hilfiger, and CVS Pharmacy.
- Employee count increased to over 300 from 236 in May 2020.
WHY DOES THE MARKET MATTER?
- The global personalization software market is projected to grow at a CAGR of 23.50% to reach a value of $2.20B by 2026.
- Accelerated digitalization, a growing focus on personalization to retain and gain new customers, and increasing competition have all contributed to the growth of the industry.
- The AI-driven personalization market is attracting many key players and investments. For example, Amazon launched Personalize, an AI-powered recommendations service provider, and Google added AI-driven app personalization to Firebase, its app development platform.