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Blueshift Labs raises $8M from Storm Ventures & existing investors

blueshift

Big-data and marketing SaaS company Blueshift Labs has raised $8 million in a round of funding led by Storm Ventures, with participation from existing investor Nexus Venture Partners, reports Vccircle. The company will use the funds for marketing, sales operation and product development.

Note that Blueshift had previously raised $2.6 million in a seed round of funding led by Nexus Venture Partners and New Enterprise Associates (NEA), with participation from various angel investors back in November 2014.

Founded in May 2014 by Vijay Chittoor, Manyam Mallela and Mehul Shah, Blueshift currently offers three products including real time segmentation, predictive intelligence and cross channel automation, integrated into its predictive marketing automation software.

Real time segmentation creates profiles of users visiting the website with 3rd party data integration to include user data from other sources as well, while its predictive intelligence product claims to infer user intent through behavioral cues and assigns user product and category affinity scores, to help marketers find potential buyers. Cross channel automation enables clients to then target relevant users with cross platform marketing messaging.

The company supports segmentation of user data based on recent activity, lifetime activity, demographic, traffic source and other custom parameters defined using custom tags. For marketing, the platform supports emails, SMS, mobile push notifications and display advertising, including Facebook remarketing.

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Other developments in big data & analytics:

– In November, online advertising solutions company Vizury laid off around 50 people in 3 cities in its ad retargeting business, and pivoted its business model to a data management platform (DMP) business.

– In August, Mumbai-based IntelligenceNODE, a big data analytics startup, raised funding worth $4 million from New Enterprise Associates (NEA) and Orios Venture Partners.

– In July, Flytxt raised $11 million in funding, while in June, Seattle based Indix raised Series B funding worth $15 million.

– In June, Data sciences and analytics firm Saama Technologies raised $35 million in a round of funding from California-based Carrick Capital Partners.

– The same month, Tracxn, a research platform for private market investors, raised $10 million in a round of funding, to launch an incubator called TracxnLabs. The company recently raised funds from Ratan Tata.

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