Engange Your Customers through Customized Promotions via Freshplum, Raised $3.43 Mn

Freshplum was Co-Founded in 2010 by Sam Odio and Nick Alexander. The company has received a total funding of $3.43 Mn through investors including Yishan Wong, Brian McClendon, Google Ventures, Charles River Ventures, Greylock Partners, New Enterprise Associates, Y Combinator, Gabor Cselle, George Zachary, Jim Young, Alison Rosenthal, Data Collective, Eric Kwan, Kenny Van Zant, Franklyn Chien, Ryan Merket and Bobby Goodlatte.

Freshplum helps online retailers effectively engage their customers via customized promotions. The company was started with the aim of using data analysis to help its retailers personalize and target promotions to maximize effectiveness and therefore maximize revenue.

  • Freshplum works by installing a Javascript API, similar to that of Google Analytics, that allows the company to observe how site visitors are reacting to an etailer’s existing promotions.
  • The platform measures, AOV, buying frequency, lifetime purchasing volume, and other metrics to suggest new promotions strategies for each consumer or group of consumers.
  • These promotions are then typically served on-site, rather than through email or other distribution channels.
  • Retailers often start with a single objective, such as converting window shoppers into buyers, or reactivating previously active customers who haven’t purchased in more than six months.
  • Freshplum may require as much as 90 days to collect data on user behavior and institute an effective campaign.

Some features of their platform: