Brightloom, a US-based customer relationship management technology producer backed by hospitality franchise operators Alsea and Alshaya, secured $15m in funding yesterday.
The capital was provided by new and existing backrs including investment firms Tao Capital and Valor Equity Partners, the latter through its Valor Siren Ventures unit, which is sponsored by café chain operator Starbucks.
Founded in 2014, Brightloom has developed an artificial intelligence and machine learning-equipped software platform which enables restaurant owners, retailers and consumer brands to promote their products based on the data obtained through customers’ shopping patterns.
The company will use the funding to enhance its research and development capabilities and increase its operational team.
Alsea and Alshaya had taken part in a $30m series B round in mid-2019 co-led by Tao Capital and Valor Equity Partners. Starbucks also acquired a stake in the company as part of the deal.
Brightloom CEO Adam Brotman said: “[Industry] leaders like Starbucks and Amazon have generated sustainable business growth through their existing customer relationships, using customer data to develop predictive personalised 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.”
