Ecommerce recommendation startup receives $5.5 million in series A

Customer recommendation Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term engine development firm Nosto has received $5.5 million in series A funding to help offer more merchants its suggestion marketing tools.

Nosto received initial seed funding back in April 2013 for the amount of $ 2.8 million from investors Open Ocean Capital, SanomaVentures and a number of undisclosed angel investors. The new round of funding was backed by VC firm Wellington Partners.

The Finnish Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term’s product consists of a marketing tool, targeted at SMEs, which analyzes customer behavior to offer suggestions and recommendations, similar to marketing campaigns conducted by Ecommerce behemoths Amazon and eBay. Since its public launch in October 2013 Nostro has been providing customer recommendation tools to over 1,200 online merchants and retailers.

Six months ago Nostro launched a “self Service” variant and since has seen its revue grow by 500%.

CEO and founder Juha Valvanne stated the new found funds will help with further development of Nosto’s signature product as well as help recruit more manpower for research & development, business development, marketing and management, as well as fueling future plans for developing new products.

“These big companies have developed a data-driven advantage over smaller web shops that could not afford the same level of R&D in data mining and predictive modeling. The combination of deep technology and simplicity offered by Nosto made us very excited about joining forces with Nosto’s founders and existing investors,” Valvanne added.

It is companies like Nostro which help bring awareness to smaller online retailers. A large portion of return customers from larger Ecommerce platforms are persuaded by recommendations and suggestions sent through Marketing campaign . Amazon is touted as being the king of Ecommerce recommendations and recently announced its plans on shipping items to customers before even being ordered.

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