Bluecore recently announced the closing of a US$21 million Series B funding round led by Georgian Partners, the Series A funding saw US$6 million raised, at that time they renamed the business Bluecore, and were formerly known as Triggermail.
“Our software lets retailers to execute powerful personalized email campaigns their customers love” said Mahmoud Arram, co-founder and CTO talking about the product which focuses its efforts on the eTailer, both traditional retailers and ecommerce only business looking for trigger based email marketing solutions that can be deployed rapidly.
Triggermail launched in 2013 and the current incarnation as Bluecore with a rebranded and refreshed solution has been on the market for less than 24 months, and in that time has seen significant growth, they claim they are track to generate more than $200 million in gross revenue on behalf of their retail customers in the past 12 months. Indicators of growth include:
- Doubling AAR every six months
- 3x customer base growth in less than 10 months, now representing more than 180 top retail brands
- 4x team growth in 12 months to more than 60 full-time employees
Bluecore indicate that the latest round of funding will support requests from existing customers to expand into new areas outside of email, which has been the focus of the business for teh past 2 years, still focussed on marketing for eCommerce,but looking to offer solutions in alternative channels including display and mobile.
Bluecore also plan to expand internationally in 2016 and is projecting headcount to double in the next 12 months.
“Georgian Partners’ focus around Applied Analytics and previous experience backing companies like Shopify, Tealium and FreshBooks will play a pivotal role in guiding our expansion plans in the coming years.” said Fayez Mohamood, co-founder and CEO of Bluecore.
This Series B round will bring Bluecore’s total funding to $28.2 million since 2013. As part of this round, Justin LaFayette of Georgian Partners will join Bluecore’s board of directors.
“Bluecore’s ability to drive deep 1:1 personalization and product recommendations in real time is very impressive,” said Justin LaFayette, managing partner of Georgian Partners. “Their use of applied analytics to drive actionable insights from their rich repository of product catalog data will continue to be a key differentiator.”