Total amount raised
$263.2 Millions
Latest funding date
11/01/2024
Location
Bluecore has successfully raised significant funding over multiple rounds, attracting the attention of prominent investors. The platform specializes in retail marketing technology, offering a unified Customer Data Platform (CDP) and Email Service Provider (ESP) functionalities.
Keep reading to explore the intricacies of Bluecore's fundraising journey and the investors backing this innovative platform.
What Is Bluecore?
Bluecore, founded in 2013, is a retail marketing technology company based in New York, New York. The company was established by Fayez Mohamood, Mahmoud Arram, and Max Bennett.
Bluecore specializes in providing a platform that unifies Customer Data Platform (CDP) and Email Service Provider (ESP) functionalities. Their solutions include AI shopping agents, customer data and insights, and activation and orchestration tools to personalize shopper experiences and drive revenue.
Currently, Bluecore employs between 251-500 people, managing nearly 500 million shopper IDs and a vast product catalog. The company aims to connect casual shoppers to products through its e-commerce platform.
How Much Funding Has Bluecore Raised?
- Seed Round
- Amount Raised: $118K
- Date: April 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Seed Round
- Amount Raised: $1.1M
- Date: July 2013
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $6M
- Date: January 2015
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance marketing efforts.
- Series B
- Amount Raised: $21M
- Date: December 2015
- Lead Investors: Georgian
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand customer base.
- Series C
- Amount Raised: $35M
- Date: October 2017
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product capabilities and enter new markets.
- Series D
- Amount Raised: $50M
- Date: May 2020
- Lead Investors: Georgian
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in AI and analytics and support e-commerce growth.
- Series E
- Amount Raised: $125M
- Date: August 2021
- Lead Investors: Georgian
- Valuation at Round: $1 billion
- Motivation Behind the Round: To accelerate e-commerce product development and investment in AI and analytics.
- Funding Round
- Amount Raised: $24.9M
- Date: November 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and technological advancements.
Total Amount Raised: $262.118M. Current Valuation: $1 billion.
Key Investors
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage investment firm. They focus on venture and growth equity investments.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Uber, Spotify, Casper.
- FirstMark
- Details: FirstMark is an early-stage venture capital firm. They focus on technology and innovation.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Pinterest, Shopify, Airbnb.
- Georgian
- Details: Georgian is a multi-billion dollar fintech company. They invest in high-growth software companies leveraging data.
- Investment Focus Areas: High-growth software companies, AI, eCommerce.
- Notable Investments: Shopify, WorkFusion.
- Silver Lake Waterman
- Details: Silver Lake Waterman is part of Silver Lake, a global leader in technology investing. They focus on later-stage growth investments.
- Investment Focus Areas: Technology, tech-enabled industries.
- Notable Investments: Dell, Alibaba.
What's Next for Bluecore?
Bluecore stands at the cusp of a significant opportunity, targeting a retail e-commerce market projected to grow to $10 trillion by 2027. With a focus on the top 2,500 retailers and fast-growing DTC brands in the US, the company is well-positioned to capitalize on this expansive market. Their AI-driven platform, which personalizes marketing campaigns, is set to drive increased purchase frequency and conversions.
Future fundraising opportunities appear promising as Bluecore continues to innovate and expand its product offerings. The recent $125 million Series E funding round, which valued the company at $1 billion, provides a solid foundation for further growth. Investors are likely to remain interested as the company scales its operations and enhances its AI and analytics capabilities.
However, Bluecore may face challenges such as intense competition from other marketing technology companies and the need to continuously innovate. Ensuring data privacy and security, especially with the use of first-party data, will also be crucial. Despite these hurdles, Bluecore's focus on personalized, digital-first customer experiences positions it well for future success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Bluecore and gather other critical business insights. Sign up for free and start making data-driven decisions today.
