ShopAdvisor Exceeds Growth Expectations and Receives More Funding
Establishes Leadership Position in Mobile Proximity Market through 300% YOY Growth, Expanded Customer Base Across Multiple Industries, and Significant Enhancements to ShopAdvisor Intelligence Suite
Boston, MA (PRWEB) February 06, 2017
ShopAdvisor, Inc., the leader in drive-to-store mobile proximity marketing announced today that it has received additional material funding from its current investor syndicate, including Jeff Papows, CEO of ShopAdvisor. The funding comes on the heels of ShopAdvisor exceeding its business objectives in 2016, including growing revenues by more than 300% year-over-year and expanding its customer base across many segments including CPG, apparel, food and beverage, health and beauty, consumer electronics, retailers and digital agencies.
“2016 was was truly a watershed year for ShopAdvisor. The demand for mobile proximity marketing solutions that can deliver measurable results really started to take off and organizations across a wide spectrum of market segments found that ShopAdvisor delivers on that promise,” said Jeff Papows, CEO of ShopAdvisor. “The strategic investments we made in our Intelligence Suite, combined with the technology we obtained through our acquisition of Retailigence resulted in a platform which provides the comprehensive shopper, location and product availability information needed to power contextually relevant drive-to-store mobile experiences that speed the consumer’s path-to-purchase in physical retail locations.”
In 2016 ShopAdvisor grew its revenues 300 plus percent over 2016. The company added dozens of new clients spanning many different markets. New clients ranged from big box retailers to regional CPG companies. The company also saw a dramatic increase in the number of clients who repeatedly relied on ShopAdvisor to power their mobile proximity marketing campaigns. Of particular note was the growth in the amount of ShopAdvisor business coming via digital agencies big and small with much business now emanating from this channel.
The Expanding ShopAdvisor Intelligence Suite Platform and Partner Ecosystem
Leveraging the company’s acquisition of Retailigence earlier this year, ShopAdvisor delivered significantly enhanced version of its Intelligence Suite. The new version featured across-the-board enhancements to its Product Intelligence, Context Intelligence and Shopper Intelligence modules. The new version of the ShopAdvisor Platform enables quick and cost-effective development and execution of proximity marketing campaigns, which deliver personalized and compelling shopping experiences that take shoppers from their smartphones into stores to purchase products.
ShopAdvisor also introduced new advancements to its AppNET and to its Retail Partner Program, which extended the scope and value of the ShopAdvisor ecosystem for all participants — consumers, media/publishers, brands, retailers, agencies, and mall operators. Now more
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