BloomReach, a Mountain View, California based data application firm, which offers “big data” tools for marketers has raised a $25 million Series C round led by US Venture Capital Partnership New Enterprise Associates (NEA). Existing investors Lightspeed Venture Partners and Bain Capital participated in the round.
With this third round of investment BloomReach has raised $41 million in funding so far, and 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.
Looking at growth of ecommerce and spate in businesses going online in recent past, BloomReach is also contemplating to enter and leverage Indian market within a year or so. BloomReach helps marketers personalize and optimize their websites based on search patterns. It has built a service that ingests data from customers’ websites and elsewhere on the Internet to better understand what people are looking for. The service can instantly create custom web pages based on that understanding, the company says. Currently, BloomReach serves brands such as Neiman Marcus, Williams-Sonoma and Bellacor and its user base spans across retail, travel and real estate segments.
According to a report (link) released by Gartner yesterday
Big data will drive $232 billion in spending through 2016. It will directly or indirectly drive $96 billion of worldwide IT spending in 2012, and is forecast to drive $120 billion of IT spending in 2013. In 2012, IT spending driven by big data functional demands will total $28 billion. Most of that will go toward adapting existing solutions to new demands driven by machine data, social data and the unpredictable velocity that comes with it.
At present, most big data spending is directed towards deploying traditional solutions to the big data demands such as machine data, social data, widely varied data and unpredictable velocity.
BloomReach has its R&D centre located in Bangalore and 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. The Indian arm of BloomReach has been at the forefront of big data marketing innovation – creating new products for new channels and new markets.