Teikametrics, a Boston, MA-based Retail Optimization Platform (ROP), raised $10m in Series A funding.
The round was led by Granite Point Capital, Jump Capital and FJ Labs.
The company will utilize the investment to accelerate development of its SaaS platform.
Founded in 2013 and led by Alasdair McLean-Foreman, CEO, Teikametrics provides a machine-learning powered SaaS platform, Teikametrics Flywheel, which gives sellers and brands advanced data science technology to dynamically manage their Amazon Advertising by increasing conversions, sales velocity, and Return On Advertising Spend (ROAS) on Amazon.
The solution optimizes billions of transactions for thousands of retailers around the world selling on Amazon and other marketplaces using proprietary econometrics and machine-learning data models packaged in a SaaS interface.
It is used by such retailers and brands as Razer, Power Practical, Zipline Ski, and Mark Cuban’s Brands.