"TechCrunch" reports that e-commerce personalization start-up Commerce Sciences Ltd. has raised $1.8 million in seed funding from Eric Schmidt’s Innovation Endeavors, Genesis Partners, T5 Capital, and angel investors, including Backplane chairman and Palantir Technologies co-founder Joe Lonsdale. Commerce Sciences, founded in late 2011, is currently operating in stealth mode, from which it is due to emerge in a few weeks.
"TechCrunch" quotes Commerce Sciences co-founder Aviv Revach as saying that for e-commerce companies to succeed, it is critical for them to be able to tailor the shopping experience to the individual, personalizing not only recommendations but the entire experience in such a way as to make it stickier, more streamlined, and more engaging.
Revach and co-founder Eyal Brosh say that they are bringing together methodologies and technologies from behavioral economics, big data, and predictive analytics to create what will eventually be an end-to-end personalization platform for e-commerce companies. "TechCrunch" says that both men have strong backgrounds for their new venture: as Revach is a serial entrepreneur, who co-founded mobile games developer Mominis Ltd.; Brosh was formerly VP R&D at Flash Networks, and they are also alumni of the IDF Intelligence Corps.
Revach and Brosh told "TechCrunch" that, like Palantir, they want to bring sophisticated, government-grade technology to online shopping. While they wouldn’t say when, the official beta launch of Commerce Sciences is coming soon and will include, a platform agnostic plug-in which will enable online commerce companies to become “more intuitive and stand out from their competitors, while helping them to increase sales online."
Revach said that the plug-in is designed to seamlessly integrate with all the popular e-commerce platforms - Magento osCommerce, Zencart, Cirtuemart, Demandware - to help retailers personalize the many aspects of the shopper’s experience, regardless of platform.
Published by Globes [online], Israel business news - www.globes-online.com - on July 3, 2012
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