Freshplum
Data science-based technology that displays promotional.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor investor investor investor investor investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Freshplum operated as a data science-driven analytics company targeting the e-commerce sector. Founded in 2010 by Sam Odio, Nick Alexander, and Michael Yuan, the company emerged from the Y Combinator accelerator program in the summer of 2011. The founding was inspired by Odio and Alexander's previous experience running an online business, where they identified a significant challenge in pricing digital goods and services effectively.
The company's core business was providing cloud-based predictive analytics software to help online retailers make smarter sales decisions. Freshplum's primary product, 'Targeted Promotions', utilized machine learning to analyze website visitor behavior. It aimed to identify visitors who were unlikely to make a purchase and then present them with personalized promotional offers to incentivize conversion. This technology analyzed demand elasticity to deploy targeted discounts, reportedly increasing retailer revenue by up to 15%. The business model was centered on offering a software solution that could be implemented quickly, a key selling point for large retailers managing high volumes of traffic and sales.
Sam Odio, the CEO, had previously co-founded Divvyshot, a photo-sharing application acquired by Facebook, giving him experience with large-scale data systems. This background was instrumental in shaping Freshplum's data-centric approach. The company secured a total of $1.69 million in funding over three rounds from prominent investors including New Enterprise Associates (NEA), Greylock Partners, Google Ventures, and Charles River Ventures. In July 2014, the advertising technology firm TellApart acquired Freshplum for an undisclosed amount. The acquisition aimed to integrate Freshplum's machine learning technology into TellApart's ad products to offer personalized retail promotions across platforms like Facebook. TellApart was subsequently purchased by Twitter.
Keywords: predictive analytics, e-commerce optimization, targeted promotions, data science, revenue analytics, customer conversion, Y Combinator alumni, Sam Odio, personalized marketing, demand elasticity, promotion software, retail tech, TellApart acquisition, online retail, sales optimization, website personalization, machine learning retail, behavioral targeting, discount optimization, e-commerce analytics