TargetingMantra, an India-based marketing technology producer backed by mobile internet company One97 Communications, has been acquired by Jasper Infotech, the operator of e-commerce platform Snapdeal, according to Business Insider.
Financial terms of the deal have not been revealed. The acquisition is the first for Jasper since it secured $200m in funding in February 2016 for Snapdeal from a consortium featuring media group Bennett Coleman & Co.
Founded in 2013, TargetingMantra’s platform enables e-commerce companies to increase customer loyalty through personalisation, targeting and big data analytics, enabling features such as product recommendations.
TargetingMantra’s technology will support Snapdeal’s aim of offering a more personalised experience. Snapdeal CEO Kunal Bahl recently told the Economic Times the company intends to shift its growth metric from gross merchandise sales to attracting and retaining high-quality users.
One97 contributed to TargetingMantra’s $1.1m seed round in 2014 through its One97 Mobility Fund subsidiary. 500 Startups and Nexus Venture Partners also participated in that round.
Saurabh Nangia, co- founder of TargetingMantra, said: “We are very excited to become a part of the Snapdeal family. Given Snapdeal’s customer centric approach to technology, TargetingMantra can add immense value to shaping shopping experiences on the platform.”