Personali, a New York-based incentives personalization platform for online retailers, raised $12m in Series B financing.
The round was led by Norwest Venture Partners with participation from Cedar Fund, Gemini Venture Partners and private angel investors. In conjunction with the funding, Dror Nahumi, General Partner at Norwest, joined the company’s Board of Directors.
The company, which has raised a total of $15m, intends to use the funds to expand global sales and marketing, enhance and grow product offerings and hire technical talent for its development center in Tel-Aviv.
Led by Noam Javits, co-founder and CEO, Keren Zimmerman, co-founder and CPO, Personali provides a platform that allows online retailers to directly engage with consumers by allowing shoppers to personalize their own prices within limits controlled by the retailer. Since shoppers make different offers, this approach protects profit margins and increases sales while still letting shoppers pay a price of their choosing. In the past 18 months, it has generated over $200M in incremental revenue for retailers in North America, Europe and South America.
Clients include Fortune 50, 100 and 500 retailers as well as Forbes’ Global 2000.