Retail Rocket Raises €23.2 Million To Use AI For Retention Management
Company for AI-based customer retention management platform Retail Rocket has raised €23.2 million and acquired similarly focussed company Sailplay.
Created on July 4|Last edited on July 4
Comment
One of the best ways to succeed as a business is through customer retention; Building customer loyalty keeps a consistent flow of business so that you don't have to always rely on first-time customers. By not only using broad demographic-based advertisement on the web, but employing direct communication through email and other means, there are many ways a marketing team can ensure customer retention.
With all the data collection necessary to facilitate this re-marketing, it's no surprise that an AI-based platform has come into the mix. Retail Rocket uses such a platform to automatically interpret customer data and interaction to determine the optimal paths to take for ensuring customer retention, called the Retention Management Platform.
Who's funding Retail Rocket and where's the money going?
Retail Rocket has announced the completion of a Series A funding round totaling €23.2 Million (Around $24.2 Million) funded completely by Flintera.
The intent for this money is to grow Retail Rocket through expansion in Europe and Latin America. As an additional action by Retail Rocket, they have also acquired the similarly marketing automation-focused company Sailplay.
Find out more
Add a comment
Tags: ML News
Iterate on AI agents and models faster. Try Weights & Biases today.