blueshift raises funds

SaaS Startup Blueshift Raises $2.6 million from Nexus & NEA

Early-stage SaaS startup BlueShift Labs based in San Francisco has raised $2.6 million in a seed round of funding led by Nexus Venture Partners and NEA (New Enterprise Associates). The deal was formally closed in August but was announced today.

BlueShift enables ecommerce companies to convert visitors into repeat buyers with its Multi-channel Predictive Marketing Automation software available as a online service.

A group of angel investors including Tim Kopp, former CMO of ExactTarget, Neil Tolaney, former investor at Technology Crossover Ventures), and Kosmix founders Anand Rajaramanand Venky Harinarayan, have participated in the seed round.

“Blueshift’s mission is to enable marketers to use the power of big fast data to build deeper relationships with their customers,” said Vijay Chittoor, co-founder and CEO of Blueshift.

The company was founded this year by Chittoor, Manyam Mallela and Mehul Shah who are repeat entrepreneurs who previously built (acquired by Groupon), and was part of the founding team behind Kosmix (acquired by Walmart to become @WalmartLabs). The company is backed by top tier silicon valley investors and is in pilot tests with select high growth customers.

Blueshift claims to be first of its kind Multi-Channel Predictive Marketing Automation software for ecommerce. Using Blueshift, marketers can automatically trigger messaging to users segmented on behavioral, demographic and derived parameters. Blueshift also provides predictive segments based on user propensity towards certain action s- e.g. a segment of users who show a high propensity to buy a certain category of product.

Blueshift is the latest seed stage deal from Mumbai based Nexus, which has more than $600 million in funds under management.

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