Seattle-based company announces $15M investment to help restaurant and retail brands leverage transactional data and predictive models to foster more loyal, profitable customer relationships
Brightloom unveiled its Customer Growth Platform (CGP), a high-performance customer engagement solution built around customer transaction data and powered by measurement and predictive modeling. The platform offers a first-of-its-kind SaaS approach to automated AI-driven, predictive personalization. Previously, these capabilities were exclusive to larger brands with dedicated analysts and data scientists. Brightloom makes high-impact marketing programs available and actionable for retailers, restaurants, and consumer brands of all sizes.
In conjunction with the product unveil, Brightloom raised $15M from new and existing investors including Valor Siren Ventures and Tao Capital Partners to accelerate R&D and scale its operation to meet growing demand for the product.
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The massive acceleration of ecommerce and digital experiences during the COVID-19 pandemic resulted in a flood of customer data for consumer brands. With stay-at-home mandates and temporary restaurant closures in effect, restaurateurs faced a particularly drastic shift to digital. The share of online food service orders reached 28 percent in 2020 up from 10 percent before the pandemic, according to collated research from The Boston Consulting Group.
“We’ve reached a tipping point that will redefine the long-term future of digital experiences and customer relationships. Most brands realize that this influx of new customer data is extremely valuable, but they don’t know where to start,” said Adam Brotman, Brightloom CEO. “We’ve seen firsthand how industry leaders like Starbucks and Amazon have generated sustainable business growth through their existing customer relationships, using customer data to develop predictive personalized marketing campaigns that create enduring, loyal and profitable customer relationships. Our platform makes this powerful approach to customer-centric marketing available to any consumer brand.”
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“We thought data science and AI were out of reach for our company, but Brightloom is helping us to deliver AI-driven personalized engagement to our customers,” said Tom Small, Co-CEO of Evergreens. “This is a game-changer for our marketing efforts.”
Emerging out of an invite-only beta program in 2020, the Brightloom CGP now supports more than 25 consumer brands including Evergreens, Jamba, and Kickee, and analyzes data for millions of unique customer records.
Built by world-class data scientists, engineers and digital marketing experts, key highlights and features of the Brightloom CGP include:
- Simple and fast onboarding and rapid time to value: The CGP’s data-science-as-a-service design enables brands to get up and running in days with quantifiable results in weeks, not months and no data teams required. The CGP leverages the transactional data that brands already have and can be integrated quickly with complementary data and marketing systems.
- SmartSegments: The Brightloom CGP runs a brand’s customer transaction data through proprietary product recommendation and revenue forecast models to predict what each customer is likely to purchase next and how much they are likely to spend. The CGP uses these predictions to generate relevant product recommendations and promotions for each digitized customer that are designed to increase customer engagement and maximize business impact.
- Extensible campaign management: Through integrations with over 30 different data platforms and marketing systems, brands can import their SmartSegments into either their existing campaign management system or utilize Brightloom’s Campaign Management services to deliver personalized campaigns to customers with CGP-generated product and promotion recommendations.
- Campaign Results dashboard: The CGP measures campaign effectiveness by comparing results across treatment and control groups and provides brands with an up-to-date view of campaign impact on key metrics including revenue, transaction frequency, and order value per transaction and per customer. The Results dashboard instills a new standard and statistical rigor for sophisticated marketing campaigns.
- Custom Actionable Intelligence Reports (AIRs): As the program runs, CGP users receive regular custom summaries of their CGP results with specific insights and opportunities called out for optimizing their campaigns to increase customer engagement, transaction frequency, and sales. In addition, the AIRs enable brands to monitor the size and health of their digital customer base and track customer frequency across activity bands.