Nosto follows new products with funding round
E-commerce personalisation and AI venture, Nosto, has closed a funding round totalling $7.4 million led by European investment companies Tesi, Open Ocean and Idinvest. The cash will be used towards investments in Nosto’s machine learning core, omnichannel personalisation and continued international expansion.
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To date, Nosto has raised more than $25 million from investors. “We’re very proud of the momentum that we’re experiencing and the widespread adoption of our AI-powered personalisation platform. This funding round comes on the back of major product advancements we launched earlier this month where client impact and results have been phenomenal,” says Jim Lofgren, CEO of Nosto. “With these new products, we're now enabling retailers to personalise the entire brand and shopping experience in real-time based on our proprietary AI algorithms, which have trained across tens of billions of data points.”
“As we expand our offerings to deepen the personalisation experience, we are confident that we will improve the customer and brand relationship and drive increased sales for retailers. We’re grateful to our investors for their confidence in our growth and support in cementing our position as a leader in retail AI,” he concludes.