Evergage Secures $4 Million in New Funding to Solidify Its Edge in Real-time Web Personalization
Major New Customers, Significant Product Advancement and Financing Led by G20 Ventures Emphasize Market Momentum
BOSTON, Mass., May 21, 2014-- Evergage, provider of the market-leading real-time behavior-based web personalization platform, today announced that it has closed a $4 million Series A. This round of financing, which will reinforce the company’s influence in the market, underscores remarkable performance milestones, prominent client wins and significant product advancements.
The investment was led by G20 Ventures, a venture capital group of technology pioneers guided by co-founders Bob Hower, who joins the Evergage board of directors, and Bill Wiberg. The company’s existing major investors – including Point Judith Capital, Advanced Technology Ventures, Jit Saxena, Stephan Schambach, Andy Ory, and Jim Baum – also participated in the round.
“Evergage is revolutionizing the way businesses convert customers on their websites by making the technology, power, and business value of real-time personalization accessible to any marketer,” said Karl Wirth, CEO and co-founder of Evergage. “Our platform helps digital businesses reduce the time, cost and complexity of gaining an understanding of website visitors and responding to them right in the context of their interaction. We empower marketers to use Big Data to respond in real-time. This is the catalyst for our record-breaking growth.
“We are excited to be working with the G20 and are already benefiting from Bob Hower’s deep digital marketing and e-commerce software expertise, having led investments and served on the board of such successful companies as Channel Advisor and [x+1],” Wirth continued.
Record Growth in Short Time
This funding round comes on the heels of a number of company performance milestones since the launch of its platform one year ago:
• Achieved 200 percent consecutive quarter-over-quarter revenue growth.
• Secured 110 new clients in ecommerce, travel, financial, marketing, content, and SaaS.
• Delivered real-time web personalization to more than 120 million website visitors.
• Tracked more than 2 billion real-time website actions taken.
“As the promise of web personalization becomes a reality, Evergage is ensuring that many of the leading, global brands dramatically increase web conversion rates while delivering relevant, real-time online experiences to their customers,” said Bob Hower, co-founder, G20Ventures. “The Evergage team has achieved tremendous success over the past year, adding over 100 new clients, including some of the world’s most recognized brands, and achieving 200% revenue growth. We are confident this momentum will only accelerate.”
Marquis Clients Endorse Real-time Personalization
Evergage has been steadily adding larger clients with more monthly unique website visitors, to its roster. E-commerce powerhouse Wayfair, leading direct marketer Publisher’s Clearing House, Palms Casino Resort, GroundLink and Stonyfield Farm are among the growing number of recognized brands using the Evergage platform for providing personalized experiences to every website visitor.
“Partnering with Evergage has been a very positive experience for PCH, from implementation to website optimization,” commented Sal Tripi, associate vice president of digital operations and compliance for Publishers Clearing House. “Using real-time messaging has enabled us to interact on a more personal level with new PCH.com visitors as well as those who are already engaged with us, leading to a sizeable increase in conversions and a great return on investment.”
“Our vision for Wayfair.com has always been to make every customer’s experience personal,” said Michael O’Hara, VP of Product Development for Wayfair. “With Evergage we are able to execute on that vision in a much faster timeframe and without significant resource allocation. We confirmed that Evergage can integrate with our internal systems so we could leverage our existing technology investments, and I’m very pleased to say it does. We are now delivering unique shopping experiences for our customers.”
Significant Platform Enhancements Deliver Unique Customer Experiences
Evergage’s new product release enables marketers to take another leap toward making their digital properties their very best consultative salesperson or customer success representative -- without having to involve IT, development or data resources. They can now understand browsing behavior that’s never been tracked before, such as time spent looking at the product or content, level of drill-down into the product or content, and price points of interest. Combine that with viewing and purchase behavior at the product, category, tag, brand and attribute level, and the marketer can now deliver targeted responses, such as showing:
• An e-commerce visitor who is browsing across categories, the brand in which they spent the most time during the current and past week of sessions.
• An e-commerce visitor who came to the site deep linked from search, other products from the first category on which they landed.
• A content visitor, additional articles from the author they most frequently read.
• A SaaS user a case study of how one customer realized great benefit from a particular in-app feature where the user has spent the least time.
Evergage can track, analyze and report the revenue impact of these campaigns and attribute the campaigns to overall revenue and to the revenue of that particular product. This data can then be used to further personalize the experience based on the visitor’s behavior or aggregate user behavior.
Evergage delivers a market-leading real-time personalization platform for optimizing web conversions and customer success via dynamic content and inline messaging features, behavioral analytics and segmentation, and integrations with other top CRM and SaaS providers. Clients include Acquia, Experian, Gardener’s Supply Company, Millward Brown Digital, Palms Casino Resort and Publishers Clearing House. Founded in 2010 as Apptegic, Evergage is a 2014 NEVY Award, MITX What’s Next Award and Red Herring Top 100 North America finalist. Learn more at http://evergage.com or contact the company at sales(at)evergage(dot)com or 1-888-310-0589.
About G20 Ventures
G20 Ventures is an early-stage venture firm comprised of a group of successful entrepreneurs and business leaders working together to help the next generation of start-ups succeed. Based in Boston, the firm was founded by Bob Hower and Bill Wiberg with an investment focus on enterprise software, infrastructure and Internet solutions. The G20 group is a resource to help emerging companies with marketing, sales strategy, product road maps, pricing, customer introductions, fundraising and recruiting. Visit http://www.G20vc.com for more information.
Venture Capital Database
Venture Capital Deals Spreadsheet