In a bid to integrate machine learning-based solutions on its platform, Snapdeal, has acquired Gurgaon-based predictive marketing technology startup TargetingMantra for an undisclosed amount.
It is a boutique technology company that has been working on the field of personalising shopping experience for customers on ecommerce platforms.
Founded by Saurabh Nangia and Rahul Singh in March 2013, TargetingMantra, has offices in Palo Alto and Gurgaon. The company provides a unified platform to manage customers life cycle through personalisation, targeting and big data analytics.
In 2014, TargetingMantra had raised $1.1 Mn in seed funding led by 500 Startups, Nexus Venture Partners, and One97 Mobility Fund. Angel investors including Rajan Anandan, MD OF Google India; Ankur Warikoo, head of Groupon Asia-Pacific; and Gaurav Agarwal, former MD of Farmville.
The startup specialises in building products for enhancing customer buying journey and increasing conversion rates through intuitive product discovery, recommendations, and channel selection.
At Snapdeal, TargetingMantra’s team will further the on-going initiative to build the ‘customer experience engine’ which will personalise shopping experiences for customers.
Speaking about this acquisition, Rohit Bansal, Co-Founder, Snapdeal said,
At Snapdeal, we are always on the lookout for talented teams, who come with complementing tech skills, which can further enhance the experience for our customers. Personalisation is a key piece which helps consumers discover and transact in a fast, frictionless and intuitive manner. The Targeting Mantra team comes with valuable experience in driving superior customer experience through machine learning. We are thrilled to have them join us on our journey towards achieving 20 million daily transacting users by 2020.
Commenting on the acquisition, Saurabh Nangia, Co- Founder, TargetingMantra said,
Going forward, we are confident that Snapdeal will be at the helm of more innovations in personalisation space.
