By Writer Michael Carney of PandoDaily:
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Big data and machine learning are the decision making tools of the moment. And as such, they are turning up in places you’d never expect. Ecommerce businesses, for example, are turning to data analysis to better understand and market to their customers. However, it’s beyond the scope of nearly all ecommerce companies to build their own internal data science teams to create proprietary algorithms.
Enter Retention Science, a two year old Santa Monica startup producing customer retention and marketing automation software. The company recently exited beta and is beginning to work with many of the industry’s most well-known companies, including CafePress, The Honest Company, and Chrome Industries, as well as several of the world’s largest big box retailers which contractual terms prevent it from naming publicly...
... Today, the company is announcing $750,000 in Seed-extension financing from Forerunner Ventures. The round comes on the back of a 133 percent increases in customer spending and 15 percent in business margin improvement year-to-date, according to co-founder Jerry Jao. Forerunner founding partner Kirsten Green will join Retention Science’s board of directors.
