RichRelevance Raises $8 Million
RichRelevance has raised $20 million in new funding led by Crosslink Capital, Greylock Partners, DFJ, and Tugboat Ventures last May. The company has recently raised an additional $8 million to close the oversubscribed round with new investors RTP Ventures, Shea Ventures, and Gray Ventures participating.
RichRelevance offers technology that lets e-commerce companies track user behavior for a more personalized shopping experience. RichRelevance was founded by former Amazon.com architects.
The raise in funding was done partially to bring RTP Ventures Senior Managing Director Kirill Sheynkman on the board of directors as an advisor. Sheynkman was the founder of Stanford Technology Group, which was acquired by Informix in 1995. He also created Plumtree Software, which was acquired by BEA Systems.
RichRelevance will use the funding to hire additional talent to help support major clients like Target and Wal-Mart. RichRelevance has delivered over 850 million product recommendations daily.@amitchowdhry or on Google+ at +AmitChowdhry