BloomReach Raises $25 Million in Series C Funding


BloomReach Raises $25 Million in Series C Funding

Bangalore: BloomReach, a big data marketing Applications Company has attracted $25 million in its Series C funding. The round which was led by VC firm New Enterprise Associates also saw existing investors Bain Capital and Lightspeed Ventures participating. The company will use the funds to hire the best people on board and expand aggressively.

The US-headquartered company which is not profitable has its R&D centre located in Bangalore. It was founded in 2009 by Raj De Datta, a Harvard Business School alumnus and Ashutosh Garg who was a key member of the Google search quality team. It provides online retailers and commerce sites with an automated solution to help promote better discovery of their content and merchandise by consumers. Its clients include retail giants Neiman Marcus, Williams-Sonoma and Crate & Barrell.

This funding has brought BloomReach's total funding to $41 million till date. It now plans to double its investment in sales and marketing and triple its R&D investment in the US and India to create big data applications beyond search for every online marketing channel including mobile, social, and video.

According to a report by Gartner, the Indian big data industry expected to grow from about $200 million in 2012 to about $1 billion in 2015 at a compound annual growth rate of over 83%, according to the industry report.