Fri. Mar 29th, 2024

US-based retail marketing automation company Bluecore has acquired Noida-based marketing startup Betaout for an undisclosed amount, marking its foray into the Indian e-commerce market.

Post acquisition, Betacore will expand its footprint in the Indian e-commerce market by establishing an innovation and engineering hub ‘Bluecore India’.

As part of the deal, Betaout Co-Founders Ankit Maheshwari, Arjun Maheshwari, and Raghubir Thakur, and Nandini Rathi will join Bluecore and head its India and Asia-Pacific operations. While Mayank Dhingra will be exiting Betaout.

Furthermore, Betaout as a brand will cease its operations and discussions are being undertaken to help customers in the transition.

Founded in 2014, Betaout enables e-commerce platforms to automate customer engagement across multiple channels including Email, Mobile Push, On-site, Browser Push, SMS, Live Chat and tools such as Cart Recovery.

Some of its prominent clients among a list of over 100 clients include, Paytm, Goibibo, GOQii, Mauj, Viacom US, etc.

In January 2017, Betaout last raised an undisclosed amount of funds from East Ventures and Microsoft Accelerator Bangalore.

The startup also counts Beenext, Hyderabad Angels, Mumbai Angels, LetsVenture, Vijay Shekhar Sharma, Founder & CEO Paytm, Kunal Bahl and Rohit Bansal, Co-Founder’s of SnapdealGirish Mathrubootham, Founder & CEO Freshdesk, and Phaninder Sama, Co-Founder Redbus, among its investors.

New York-based Bluecore was founded by Fayez Mahmood, Mahamoud Arram, and Max Bennett, in 2013. The firm provides a cross-channel marketing platform specialising in emails.

It leverages technologies like artificial intelligence and data science, to match customer data with real-time product updates enabling brands to build intelligent, triggered campaigns that span all email programs and channels.

The firm boasts of having over 400 retail clients including Staples, JCPenney, Newegg, CVS Pharmacy, Tommy Hilfiger, Perry Ellis, Teleflora and Best Buy Canada.

Bluecore last raised $35 million in series C funding round led by Norwest Venture Partners, in October 2017. The marketing firm has raised more than $60 million across all funding rounds, according to Crunchbase, from investors including Georgian Partners, FirstMark, and Felicis Ventures.

Both the firms Betaout and Bluecore have been accelerated by American seed Accelerator Techstars, helping them find synergies for future growth.

By Varun

Startups | Books | Ideas

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