Richrelevance, a new San Francisco company offering personalized recommendations for online shopping businesses, has raised $4.2 million in a second round of financing.
The company joins a host of other companies — including Amazon, Aggregrate Knowledge and Wunderloop (see our coverage ) — that track what decisions you make while shopping online. Like these other companies, it then peers into its archives to find other users who have made similar decisions to you, so that it can recommend to you things that people with similar tastes have also bought.
The company plans to make more of public splash in June.
Notably, the company’s chief executive, David Selinger, previously managed Amazon’s data mining and personalization R&D team, including its personalization engine. Amazon was a pathbreaker in personal recommendation area. Also, his most recent post was as at Overstock.com, where he led data mining. Overstock was an early customer of Aggregate Knowledge. So Selinger knows his competitors — Amazon, and Aggregate Knowledge – well.
The company says its product outperforms competing collaborative filter companies by using “more than fifteen recommendation types combined with transparent messaging, continuous optimization, and merchandiser controls.”
We’ll try to find out more on this company and see if see if it lives up to its hype.