AI powered cloud analytics software company, Manthan has announced to acquire San Francisco based company, RichRelevance that offers personalized shopping experiences for large retail brands as its service. It also provides cloud based personalised solution and is expected to help Manahan’s journey to lead in the cloud market.
Together, Manthan and RichRelevance have initiated go-to market now for setting their business for the coming year. RichRelevance has raised close to $150 million across from multiple companies and Manthan is offering Premium on its current cost.
After this collaboration with RichRelevance, Manthan get access to 200 customers and gains a strong exposure in retail industry sector. This acquisition would also increase Manthan’s headcount from 500 to 600.
Acquisition leads to many cross selling opportunities
Retailers in the market need to bring together fragmented view of their customers across channels to provide personalize marketing engagement at every point and individualize every customer’s need. Algorithmic businesses require the ability to automatically process customer contexts in real-time and respond with personalized experiences based on Machine Learning models.
With this consolidation, Manthan gets an ideal position when it comes to algorithmic customer analytics and at the same time, fulfils the aforesaid needs. In this partnership, new solutions are developed such as retail marketing, merchandising solution and advanced data science solution.
This compressive solution will help to enable retailers and brands to algorithmically discover new segments and target their most profitable customers through digital solution. With this acquisition, there is an opportunity for cross selling and upselling of products to combined client base.
“As a leader in AI-driven cloud analytics, we see Manthan Software as absolutely strategic in expanding our joint value to create a digital experience marketing platform for our customers.” said Bill Pears, Chairman RichRelevance.
“You now have a partnership that is deeply vested in your success and brings a joint solution and expertise to the market to help you grow digital revenues through personalization.” stated Atul Jalan chief Executive Officer Manthan.