Unbxd, a leading product recommendation platform for ecommerce companies, today announced that it has raised USD 2 Million in its Series A round of funding, from venture capital funds, IDG Ventures India and Inventus Capital Partners. \\r\\n
Unbxd, a leading product recommendation platform for ecommerce companies, today announced that it has raised USD 2 Million in its Series A round of funding, from venture capital funds, IDG Ventures India and Inventus Capital Partners.
The funds will be used to strengthen the company’s presence in India, Singapore and North America and help Unbxd establish itself as a successful global product company from India. This capital infusion will also be used to ramp up R&D efforts while driving innovation.
Venkatesh Peddi, from IDG Ventures and Rutvik Doshi, from Inventus, have joined Unbxd’s Board of Directors. Unbxd had previously raised funding from the Indian Angel Network (IAN) in April 2012.
The Unbxd Smart Engage Platform helps ecommerce sites increase sales by recommending the right products to visitors. Unbxd tracks online shoppers in real time and powers ecommerce sites to deliver unique personalized shopping experiences to their visitors.
“We see this funding as critical to our expansion plans with a focus on increasing our customer base along with the development of new and existing products” said Pavan Sondur, the co-founder and CEO of Unbxd. “ecommerce has seen tremendous growth globally with conversion optimization emerging as a key focus area for online businesses which already face tremendous pressure due to high operating costs. Moreover, with Unbxd, businesses can improve their Marketing ROI without increasing their marketing spend at all” he added.
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