Retention Science received more than USD 750,000 from Forerunner Ventures. The funds would be added to the USD 1.3 million Retention Science gathered from its seed round held in July last year. That round was led by Baroda Ventures. Forerunner Ventures is an early-stage venture capital company that focuses its investments in firms doing business in the digital commerce space.
Retention Science is a Santa Monica, California-based company that developed the first Retention Automation Platform. Their product turns predictive algorithms and big data analytics into marketing campaigns for online retailers. These personalized campaigns allow firms to re-engage customers and help them drive profits.
The proceeds from the funding round would be used by Retention Science to develop its platform. It would also use it to expand its sales teams.
Retention Science CEO Jerry Jao said, "After receiving and evaluating over 20 inbound requests from potential investors, we decided to partner with Forerunner - based on its unparalleled expertise in the e-commerce space and early investments in successful companies like Birchbox, Warby Parker and Bonobos."
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