E-commerce firm Snapdeal has acquired TargetingMantra which offers predictive marketing automation & personalization solutions to eCommerce companies. Snapdeal aims to enhance customer experience on its platform by utilising the expertise of TargetingMantra in developing personalization and targeting solutions based on machine learning and big data.
TargetingMantra was founded in March 2013 and is based in Gurgaon and Palo Alto. It exclusively focusses on developing products which help e-commerce companies to enhance customer buying experience on their platforms.
It offers its personalization solutions in the form of a SaaS model. E-commerce companies are able to increase conversion rates through intuitive product discovery, recommendations and channel selection offered by TargetingMantra products.
On the decision to acquire TargetingMantra, Rohit Bansal, Chief Operating Officer at Snapdeal said,
Personalisation is a key piece which helps consumers discover and transact in a fast, frictionless and intuitive manner. The TargetingMantra team comes with valuable experience in driving superior customer experience through machine learning.
TargetingMantra had raised a seed funding of about $1.1 million in September last year from 500 Startups, Nexus Venture Partners (also an investor in Snapdeal), and One97 Mobility Fund.
Commenting on the acquisition, Saurabh Nangia, Co- Founder, TargetingMantra said,
We are very excited to become a part of the Snapdeal family. Given Snapdeal’s customer-centric approach to technology, TargetingMantra can add immense value to shaping shopping experiences on the platform.
Rahul Singh, Co-founder, TargetingMantra added,
We are looking forward to rolling out our solutions to Snapdeal’s huge customer base. Going forward, we are confident that Snapdeal will be at the helm of more innovations in personalisation space.
The financial details of the deal remain undisclosed. For Snapdeal, It is the second acquisition for the company in a span of almost 8 months. It had acquired SanFrancisco based advertising platform Reduce Data for an undisclosed amount last year.
India’s second largest commerce brand by GMV, Snapdeal had raised $200 million funding earlier this year from world’s largest pension fund Ontario Teachers’ Pension Plan and new VC firm Iron Pillar. The firm was valued at $6.5 billion after the latest funding round.