Reflektion, a US-based retail marketing software provider that counts chipmaker Intel and apparel producer Nike as investors, has secured $12m in financing.
The round was led by Hasso Plattner Ventures, the investment vehicle for Hasso Plattner, co-founder and chairman of enterprise software provider SAP, and included venture capital firms Battery Ventures and Clear Ventures.
Reflektion develops customer engagement software for the retail industry that uses artificial intelligence to analyse the intent of each customer in real time, providing relevant content to them in order to enhance sales conversion.
The capital will support the company’s international growth, with Europe, Middle East and Africa a priority. Reflektion also intends to improve features such as site and photo search, and behaviour-triggered emails.
Reflektion has now raised more than $41m altogether, and the latest round follows an $18m series B in February 2016 that was led by Battery Ventures and backed by Hasso Plattner Ventures and Intel Capital, the corporate venturing vehicle run by Intel.
Intel Capital led the company’s $8m series A round in 2014, investing alongside Nike and undisclosed private investors.
Amar Chokhawala, founder and CEO of Reflektion, said: “AI is truly redefining the way people shop and today there are more ways than ever to do so – from voice-enabled devices to photo search, for instance.
“In the coming years, experiences driven by Reflektion’s AI-powered solution will become even more in demand as brands look for the best option to deliver on a customer-centric approach.”