Our recent round of funding and what’s next for Custora

Custora just announced a $6.5MM Series A round of funding from VC firms Foundation Capital and Greycroft Partners. We wanted to share some of our thoughts on the journey so far, what’s to come in the year ahead, and of course say thank you for being a part of it all.

 

It’s an equally exciting and challenging time to be a retail marketer.

On one hand, brands have never before had access to so many ways to communicate with their customers. Everyday you get emails about the brands you care about. You can “follow” companies and actually have conversations with them. Nasty Gal has 1.5 million fans on Instagram. McDonald’s actually responds to questions on Facebook. The President recently hosted an Ask Me Anything on Reddit. It’s crazy. This is a marketer’s dream, so many direct ways to interact with customers.

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[Press Release] Custora Raises $6.5MM Series A to Integrate Predictive Customer Insights into the Marketing Cloud

New funds will accelerate Custora’s product development and growth; helping marketers improve customer acquisition and retention.

 

New York, NY – April 7, 2015 – Custora, a marketing software startup based in NYC, announced today the close of a $6.5MM Series A led by Foundation Capital with participation from Greycroft Partners and Valhalla Ventures. The new funding will enable Custora to scale out sales and marketing and more rapidly develop the company’s B2C marketing software platform. Custora, a Y Combinator company, raised its seed round in 2011 and has been growing based on customer revenue over the past few years.

Custora provides a predictive marketing platform built for e-commerce teams. Its software analyzes data to predict how customers will behave in the future – the things they’re likely to buy, how much they’ll spend, even how often they’ll shop. These customer-specific insights enable brands to advertise and communicate in more effective and meaningful ways.

“It’s a new type of software – part predictive analytics, part B2C marketing automation,” says Corey Pierson, Co-Founder and CEO of Custora. “The goal is for marketers to spend more time thinking about how to treat their customer segments at different points in the buying cycle, and less time caught up in data analysis and list management.”

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Calling All NYC Data and Marketing Geeks

Custora is growing and hiring software and data engineers, sales and marketing folks, customer advocates, designers, and baristas (barista? baristi? baristae?). You can check out all available jobs and apply on our careers page.

 

A bit more about us:

Custora provides a SaaS platform that helps online retailers better understand their customers and improve their customer acquisition and retention programs. We’re on a mission to remove the “mass” from mass marketing. Our software uses data science to uncover meaningful customer segments and integrates directly with various marketing tools to help retailers predict and address each segment’s unique needs and interests. Since taking part in Y Combinator’s 2011 batch, we have grown to become a profitable business working with some of the leading e-commerce brands in the country including Etsy, One Kings Lane, LivingSocial, and Bonobos. We were named one of Time Magazine’ 10 NYC Startups to Watch in 2013, and our headquarters are in the Flatiron District in Manhattan, NY. We work hard, work together, and care deeply about building a business and a culture that will have a positive impact on the world.

 

Check out our jobs page for the full postings.

 

To help you decide which position at Custora is the best fit for you, we created this handy flow chart:

job flowchart

If you’re not looking for a job, but are a friend of Custora and want to help, please spread the word on your favorite social network(s). Use this ready-to-tweet link to share on Twitter. Thanks!

Announcing Custora Holiday Pulse, a Real-Time Look into US E-Commerce Trends

Just in time for Black Friday, Cyber Monday and Purple Thursday*, we are excited to launch the Custora E-Commerce Pulse (www.custora.com/pulse), a real-time dashboard providing US e-commerce key statistics and benchmarking data.
The Pulse is based on Custora’s analysis of over 70 million online shoppers and over $10 billion in e-commerce revenue across over 100 US-based online retailers.

According to the Pulse, for the holiday period starting November 1st, holiday e-commerce sales are up 18% vs. last year. Visits to e-commerce sites increased by 23% vs. 2012.

We summarized key holiday trends so far in this festive infographic:
Real-time holiday e-commerce stats from Custora Pulse

Receive Black Friday and Cyber Monday updates
The Pulse is updated daily throughout the holiday period. Sign up to receive email updates on key dates including Black Friday and Cyber Monday.

Industry Benchmarking for retailers: See how your numbers stack against the industry
Online retailers can easily benchmark themselves against US e-commerce industry performance along key performance metrics by authenticating their Google Analytics account on the Pulse. Give it a try here.

About Custora and How We Can Help
Custora provides a customer-centric marketing platform that helps e-commerce teams make customer acquisition and retention programs more profitable. Custora’s software uses advanced statistical models to identify distinct customer segments and predict how customers will behave in the future. This enables e-commerce companies to deliver more relevant and effective communications that promote long-term customer relationships.

Custora is proud to work with some of the world’s leading e-commerce retailers, including LivingSocial, Etsy, Fab, Bonobos, Revolve Clothing, and One Kings Lane.
If you’re interested in learning more about Custora, you can request a demo here.

Pulse Methodology
To provide estimations of the US e-commerce industry, The Custora E-Commerce Pulse uses a combination of internal and external data sources. Internally, Custora analyzed over 70 million online shoppers and over $10B in e-commerce revenue across over 100 US-based online retailers. External data points, such as the US Department of Commerce e-commerce growth figures, are also leveraged to extrapolate growth trends within the Custora data universe to arrive at predictions for US industry at large. If you have any questions about our methodology, feel free to ask in the comments, tweet at us, or email us.

* ok Purple Thursday does not exist. But wouldn’t it be awesome if it did? 

Custora 4.0: Your complete “Retention Marketing Lab”

Our latest suite of upgrades includes one of the most frequent requests we’ve heard over the last 6 months: One-Time Campaigns.

Now, in addition to testing and automating trigger-based lifecycle marketing campaigns, it’s just as easy to test virtually any idea— online or offline— within a unique customer segment on a one-time basis.

Throughout the design and development process we worked with Revolve Clothing to gather valuable input and feedback. They used the tool to evaluate a holiday catalogue campaign that was sent to various high-value customer segments. Now Revolve has insight into how different customer segments respond to different catalog versions and promotions, and this knowledge will help shape Revolve’s mailer strategy in upcoming seasons.

Within the new tool, you can select any customer segment — using our segment builder or by uploading a list. Zoom in on high-value customers who first ordered something in your Pants department. Pick a group of customers who live in the Northwest. Choose a group of customers who just made their 5th purchase last week.

Then, once you have your desired customer group, Custora helps you set up a marketing experiment so you can measure how each of your marketing ideas impacts the bottom line.  Custora ensures you establish the proper control groups and runs all the A/B statistical analysis on your campaign.

Beyond the One-Time Campaign tool, we’ve also made refinements to how we display Lifecycle Trigger Marketing results, and overall performance should be zippier across the board.

We’re looking forward seeing how all our customers use our new marketing lab.  It’s one more step in our quest to help brands can easily and effectively test marketing ideas that resonate with their customers and drive results that have an impact on the bottom line.

Our ears are always perked for new feature suggestions. Keep them coming.
Thanks,

-Team Custora.

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