Data analytics and personalization technology company TargetingMantra has raised $1.1 million investment from Nexus Venture Partners, 500 Startups and One97 Mobility Fund.
The company plans to use the investment raised to continue developing its core offering as well as develop new products in the targeting space. Prior to this, TargetingMantra had received seed funding of $100,000 while being part of the ninth batch of 500 Startups accelerator program.
Founded in 2012 by Saurabh Nangia and Rahul Singh, TargetingMantra offers software-as-a-service (SaaS) based personalization and analytics solutions for various online businesses such as e-commerce, news portals, job portals and others.
The company mentions that its personalization suite analyses user behaviour from multiple data sources including web, iOS & Android platforms to showcase relevant information and products to the user. It claims to offer more than 20 website personalization solutions which can be used to upsell or cross-sell relevant products or provide product suggestions to users either through recommendation widgets on the site or through targeted email solutions.
TargetingMantra claims to have e-commerce clients across various categories like travel, lifestyle, fashion, baby products, cosmetics and home furnishing verticals in India, Brazil and the United States. Some of the them include Paytm, ShopClues, Zansaar, BlueStone, HealthKart and Babyoye.
Indix Investment: It’s worth noting that Nexus Venture Partners has also backed another big data analytics company Indix that provides product intelligence application for brands and retailers, and APIs for products, prices, promotions and stores. Indix has raised $14.4 million investment until now, including a $8.5 million investment co-led by Avalon Ventures and Nexus Venture Partners in March this year.
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