 "Indian data analytics start-up TargetingMantra raises $1.1 million in funding")
Indian data analytics start-up TargetingMantra has closed a $1.1 million funding from 500Startups, Nexus Venture Partners and One97 Mobility Fund. The company’s omni-channel personalisation suite analyses multiple data sources including user behaviour via web, iOS and Android to showcase the most relevant information and products to a user, thereby increasing revenues for e-commerce players.
With clients across India, South-East Asia, Brazil and USA, TargetingMantra plans to use the funding to continue developing its core offering and developing new products in the targeting space.
[caption id=“attachment_78993” align=“alignleft” width=“380”]
Image: Thinkstock[/caption]
Co-founder and CEO, Saurabh Nangia said, “Personalisation can drive up to 30 percent of revenues for e-commerce companies that do it well. Customers today face the problem of plenty with respect to the choices in online-purchase space. This results in customer fatigue and hampers buying decision. Showcasing only the most relevant products helps in fast purchase decisions and great customer experience.”
“Intelligent use of data is the future of everything online and mobile. An ability to customise product offerings, news and other information while protecting privacy is the holy grail of e-businesses worldwide,” added Naren Gupta, Co-founder & MD, Nexus Venture Partners.
The Silicon Valley and New Delhi based company has RajanAnandan (MD, Google India), Ankur Warikoo (Head, Groupon Asia-Pacific) and Gaurav Agarwal (former Farmville MD) as advisors.