Commerce Experience Platform Bloomreach’s Valuation Reaches $2.2B After Goldman Sachs, Bain Capital Investment

Bloomreach, the commerce experience cloud, has a new investment of $175 million, a company press release said.

This more than doubles the company valuation in the past year to $2.2 billion.

The funding comes after a $150 million investment from January 2021.

The company says it plans to use the new funding to invest in more personalization use cases, as well as continue expanding its market teams to work with business growth.

The release says that the last two years’ eCommerce boom has been good for Bloomreach, which helps businesses personalize customer journeys across channels to help them buy online.

“This has been a transformational year for Bloomreach. We view this funding as a validation of our unique commerce experience strategy, as well as a reflection of the e-commerce market’s urgent need for technology that allows businesses to stand out from the crowd, rather than simply stand up a store,” said Raj De Datta, CEO and co-founder, Bloomreach.

“Bloomreach has always thought differently about what data-powered personalization can achieve, and with the capital and resources that Goldman Sachs brings, we can accelerate our relentless pursuit of magical and measurable experiences for people and businesses worldwide.”

The post notes that eCommerce sales are likely to reach $7.4 trillion by 2025 and that businesses are eager to get more into the market for digital consumers.

PYMNTS wrote that there’s been a boost in the number of merchants offering cross-channel-capable features in recent times.

Read more: 60% of Merchants Enable Digital Profiles for Consumers

The 2022 Global Digital Shopping Index, a PYMNTS and Cybersource collaboration, based on 13,114 customer answers and 3,100 merchants in six countries, found more countries offering digital profiles storing customer information, which can be accessed through computer, mobile or in-store.

Mobile product finding, which adds to smartphone capabilities, is more widespread, too.