Proclivity Systems announced a second round of funding today, to the tune of $5.5 million. Proclivity provides back-end analytics in e-commerce sites to help retailers determine what an online shopper may be likely to buy. By mining the data trail someone leaves behind while browsing a shopping website, Proclivity claims it can help send offers and campaigns to consumers at the right time and right price point.
The round of funding was lead by Fung Capital USA Fund. Also involved were advertising holding company WPP and private investment firm Pilot Group. Taken together with its first round funding, which the company’s PR representative said was “over $750,000,” Proclivity has now raised at least $6.25 million in total.
Proclivity says it is unique among such systems in that it focuses on what a consumer does before he or she purchases an item, and not just what they chose to buy. Using this information, Proclivity can then help marketers fine tune their efforts. For instance, by analyzing the habits of shoppers looking at shoes, Proclivity can help target an email campaign at those shoppers, but selling a completely different item, for instance, sweaters. Proclivity’s system has been used by high-end retail outfit Barney’s since April of this year, and the company has reported a double-digit uptick in sales.
Predictive analytics is drawing more and more attention as retailers attempt to follow consumers online. Other firms offering e-commerce analytics include Applied Insights and Tableau Software. More broadly, shops like SPSS provide a broad range of predictive analytics, including consumer-focusing metrics. In addition, recommendation software companies like Baynote offer similar services, as do a host of other recommendation companies.
Proclivity, a two-year old company, will use the funding to boost its tech platform, shore up its management staff, and push its sales force into new markets. The company is based in New York City.
Dan Kaplan contributed to this article.