Fenox Venture Capital announces its investment in Jetlore, a provider of CRM and email targeting tools for e-commerce companies. Founded and incubated at Stanford University, Jetlore has also been invested by Alsop Louie Partners, Charles River Ventures and Sierra Ventures.
Jetlore provides 50% increase in the effectiveness of targeted email marketing. Its technology analyzes messages on social media services such as Twitter to discover an individual’s personality and buying preference. It further applies machine-learning algorithms to the click-through rates of prior email campaigns to optimize conversion rates.
“The contextual understanding of short text strings is a significant achievement,” said Eddy Lee, PhD, Principal at Fenox VC. “We have great belief in Eldar Sadikov and his colleagues who have been publishing original research in this field since 2006 and hold patents to the technology.”
E-mail marketing is a $14 Billion market where Jetlore has the potential to revolutionize the way companies understand and reach their customers. With this round of funding, Jetlore aims to provide e-commerce sites such as Groupon, Fab, and Livingsocial with semantic user targeting profiles to find the best user segment for each email promotion so as to increase conversion rates and customer satisfaction.