Welcome!

News Feed Item

Compare Metrics Secures $3.8M in Follow-On Funding

Compare Metrics, the leading provider of Adaptive Commerce navigation and discovery tools, today announced it has secured $3.8 million in follow-on financing. The financing is again led by Austin Ventures with additional funding by existing investors Julie Allegro of Allegro Venture Partners, Bob Greene of Contour Ventures, Capital Factory, Mike Maples Jr. of Floodgate, Brett Hurt of Hurt Family Investments and independent investors Ralph Mack and Adam Ross. This brings the company’s total amount of funding to $8 million. This latest funding will be used to drive continued product and company growth. The company’s client services and product development teams will continue to expand, extending the capabilities of Compare Metrics’ Adaptive Commerce solution to help retailers find more ways to create inspirational and memorable shopping experiences.

The Compare Metrics solution offers a more “humanized” approach to online product discovery, allowing consumers to use their own natural language to express personal preferences and style, rather than terminology driven by standardized merchandising categories and keywords. The tool understands and quickly reacts to what consumers want, resulting in increased shopper engagement and conversion, as well as improved relevancy and efficiency in demand generation and marketing strategies. A core element of the technology is a dedicated Content Curation team that manually searches for more “human-centric” product criteria and tags it to products, adding a whole new layer of merchandising data.

Compare Metrics received $4.2 million in first-round financing in May 2013 and has since experienced accelerated growth and garnered a wealth of industry recognition. In less than 12 months, the company has achieved the following milestones:

  • New hires and office growth - Compare Metrics has gone from nine full-time employees to 32, and looks to continue that strong growth rate in 2014. The company has tripled the part-time Content Curator team to keep pace with new client launches and the human-curated merchandising data needed to power the Adaptive Commerce solution. Additionally, Compare Metrics expanded into larger office space in 2013 to accommodate its growing team.
  • Retail client launches - Retailers are quickly learning that the Compare Metrics solution can help them gain invaluable new insights about how their shoppers think and make buying decisions. As a result, Compare Metrics has launched Adaptive Navigation for top retailers Fresh Pair, Lenovo, Rebecca Minkoff and The Wasserstrom Co., as well as other Internet Retailer 500 companies.
  • Positive retail client results - Client results are proving that a more relevant and differentiated product discovery experience drives better results. On average, the Content Curation team typically adds 3-4x new merchandising attributes per product to fuel more “humanized” navigation options. This has led to higher engagement rates than legacy navigation. Additionally, the company has reported up to 200% higher conversions for those shoppers who discover products through Adaptive Navigation versus shoppers who use standard navigation.

“It has been exciting to watch the journey of the Compare Metrics team from a three-person start-up to the high-growth and maturing company that it is today. This follow-on investment is indicative of the company’s progress in proving out their market value,” said Chris Pacitti, General Partner, Austin Ventures. “Retail client results have again validated our original confidence in the company’s potential, and I look forward to watching their continued success going forward.”

“Compare Metrics continues to make positive waves in the industry as we strive to help retailers ‘put the person’ back in personalization and create more shopper-driven online discovery experiences for their customers,” said Garrett Eastham, CEO, Compare Metrics. “To have Austin Ventures take the lead in our follow-on funding is an honor and a critical affirmation to the progress we have made as a company.”

The follow-on funding is an inside round. No changes will be made to the Compare Metrics board structure.

About Compare Metrics

Compare Metrics is the platform behind today’s most inspired shopping experiences. Compare Metrics’ Adaptive Commerce solutions empower shoppers to think, discover, compare and decide as they do in the real world, using their own words and preferences to confidently discover the right product. Adaptive Commerce solutions from Compare Metrics understand and react to what consumers want, resulting in increased shopper engagement and conversion, as well as improved relevancy and efficiency in demand generation and marketing strategies. The company is led by a team that combines extensive experience in retail technology with disruptive innovations that push the boundaries of machine learning and natural language processing. For more information, visit www.comparemetrics.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assis...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
SYS-CON Events announced today that EARP will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...