RichRelevance Announces Plans to Consolidate Business with Manthan Software
Becomes Industry’s Largest Independent Personalization Player Globally
RichRelevance, the global leader in Experience Personalization, announced that the company has signed a series of strategic partnership agreements with Manthan Software for a joint go-to-market and have set a path towards consolidating their category-leading businesses in the coming year, in compliance with applicable regulations. Manthan is a global leader in cloud analytics for consumer-facing businesses.
Some Manthan investors, including Avataar Venture Partners, will provide additional investment capital joining existing investors, which includes Centerview Capital and Greylock Partners, to further fuel the rapid growth in the Personalization space.
It’s clear that in the age of the digitally-savvy consumer, retailers need to rethink personalization from the outside-in. Retailers need to bring together their fragmented view of their customers across channels, personalize marketing engagement at every touch, as well as continuously optimize and individualized every customer touchpoint. This centralized, and always-updated customer profile data can then be leveraged to create the most accurate machine learning models, drive marketing analytics and insights, and improve business effectiveness — all in the hands of the marketer.
RichRelevance with Manthan together will deliver an end-to-end algorithmic customer experience marketing solution that includes the leading business-to-consumer Customer Data Platform, Retail Marketing & Merchandising Solution, and Real-time Personalization Platform with advanced data science. This comprehensive solution will enable brands and retailers to algorithmically discover new segments, target the most profitable customers, automatically test for and seamlessly deliver the most relevant content and offers across all touchpoints in context, and manage and deploy data science models and do so at scale leveraging AI with low-no involvement of IT.
“RichRelevance is the leader in AI-driven, real-time personalization, and has earned the trust of some of the biggest retailers and brands globally” said Atul Jalan, CEO of Manthan Software, “We believe in combining the power of flexible data aggregation, AI-driven insight through to execution, and embedded domain expertise – and as such, see Manthan and RichRelevance as truly complementary to deliver a new class of industry-critical solutions to consumer retail companies such as Brands, Retailers, Marketplaces, QSRs, Publishers, and Financial Services. You now have a partnership that is deeply vested in your success and brings a joint solution and expertise to the market to help you grow digital revenues through personalization.”
“The empowered customer is, in effect, forcing the evolution of the entire technology stack to enable real-time, contextually relevant experiences,” said Sheryl Kingstone, Vice President, Customer Experience and Commerce at 451 Research.
“Manthan’s customer data management depth in the in-store analytics space, combined with RichRelevance’s personalization platform offers retailers a broad array of applications that address customers’ demand for new immersive experiences. The capabilities align with businesses’ initiatives to expand investments in new customer intelligence platforms to build deeper connections, recommend next best actions, and create more contextually-driven interactions,” Kingstone said.
The partnership will fuel sales and marketing investments creating a global scale to deepen and expand sales presence across the US, Europe, Latin America, Middle East, and Asia Pacific. Carl Theobald will transition from CEO to the Board of Advisors and Bill Pearce will assume the role of Executive Chairman.
“This partnership reflects the market need for retailers of all types to better leverage customer data to effectively drive personalized marketing and interactive, memorable experiences,” said Bill Pearce, Executive Chairman, RichRelevance, “And we certainly see Manthan Software, a leader in AI-driven cloud analytics, as absolutely strategic in expanding our joint value for our customers globally.”