Nosto, the Helsinki-based startup pioneering in e-commerce personalization, has secured $5.5 million in a Series A round of financing led by Wellington Partners with participation from existing investors Open Ocean Capital, SanomaVentures and Tekes. This new round of funding allows Nosto to continue its strategy of global expansion.
Founded in 2011, Nosto was the first company to launch a self-service marketing automation solution for the global e-commerce industry. Since launching in October 2013, Nosto has added over 1,200 online retailers to its international client list and revenues have grown over 500%. Nosto has developed a cloud-based big data SaaS solution (patent pending) that enables online retailers to deliver a personalized shopping experience to individual customers based on their unique user behavior. Through implementing a simple plug and play solution, Nosto offers retailers full personalization of their online store. Nosto’s marketing automation tools help any online merchant increase conversion, customer retention and online store revenues. Nosto’s bespoke features include on-site recommendations, personalized triggered emails (etc.).
“Our mission is to make online shopping more enjoyable by delivering customers personalized shopping experiences. After successfully releasing our self service solution last autumn, and seeing the huge interest, we continue fulfilling our mission by building new tools to help people connect with the products they want across their entire shopping journey.” says Juha Valvanne, CEO and Founder of Nosto. “To attract the backing of an organization like Wellington Partners is a strong validation of our business and our technology. This funding enables us to continue investing substantially in innovation, technology and people.”
Since its seed funding round in April 2013, launching its self service solution, and following the hire of Matti Rönkkö, former Global Venture Development Director at Rocket Internet to lead the global expansion, Nosto has tripled the size of its team.