Retail Rocket, a Dutch retention management platform, announced that it has secured €23.2M in a Series A round of funding led by Cyprus-based private equity fund Flintera.
The company says it will use the funds to strengthen its position in the global markets and plans to acquire companies in the marketing automation technologies segment to expand its portfolio assets.
Besides fundraising, Retail Rocket has also revealed that it has acquired Sailplay, a New York-based B2C marketing automation platform for retail and restaurant businesses.
Retail Rocket says the acquisition will enable them to build loyalty and retention management for online and offline customers, increasing the value companies generate separately.
In 2021, the company generated almost €500M of additional revenue for its clients globally, and aims to increase the number by acquiring SailPlay.
Sailplay: What you need to know
Founded by Leonid Shangin and Yakov Filippenko, the US company develops and operates an easy-to-use marketing platform that helps online and brick-and-mortar retailers as well as CPG companies to build loyalty programmes, manage mass communication and get insightful customer analytics.
Currently, the company’s solution automates marketing efforts for more than 70 corporate clients all over the globe, including Sephora, Crocs, MARS, Luxoft, Tribune publishing, and others. Sailplay has raised around $3.3M to date.
Retail Rocket: What you need to know
Powered by AI, Retail Rocket is a client retention management that simplifies the use of hi-end marketing technologies and adds value to the business. The platform uses a mathematical model to transform first-time buyers into regular customers and develop individual marketing strategies for cross-sections of the client base.
Retail Rocket’s platform consists of four modules – Data Warehouse, AI Personalisation Engine, Customer Intelligence Platform, and Campaign Management System.
The AI solution generates personalised product recommendations for websites, mobile apps and emails, analyses behavioural Big Data, and segments users by interests and other aspects.
The company has offices in the Netherlands, Germany, Spain, Italy, and Chile, and has more than 1000 clients globally. These include Nintendo, Karcher, Puma, Mothercare, Stockmann, Castorama, Decathlon, Makro, Douglas, Inditex Group, etc.
“We constantly reinvested our profits, enabling Retail Rocket to become one of the leaders in the field of marketing automation and to confirm international demand for this technology. Attracting an important investor from Europe will enable us to accelerate growth, enter new markets, and add even more dynamism to the platform’s development. This transaction is also a good sign for all martech startups – global investors are looking for bright-eyed entrepreneurs, and that means that it’s good to aspire for an IPO at NASDAQ,” says Ramón de L’Hotellerie, Branch Director in Europe at Retail Rocket.