Customer engagement platform provider Coherent Path has closed $6.25 million in funding. Sigma Prime Ventures and GrandBanks Capital led the round with participation from Common Angels, dunnhumby Ventures and BOLDstart Ventures. According to the firm, the capital infusion will be used to expand its sales and marketing teams.
CAMBRIDGE, Mass.–(BUSINESS WIRE)–Coherent Path, Inc., maker of the cloud-based analytics and engagement platform that allows retailers to map customer journeys and optimize customer interactions around long-term objectives, has raised $6.25M in venture financing. The investment was led by Sigma Prime Ventures and GrandBanks Capital with participation from Common Angels, dunnhumby Ventures and BOLDstart Ventures and will be used to expand the company’s sales and marketing teams.
SigmaPrime and GrandBanks selected Coherent Path because of the team and science behind its solution, and the proven lift in engagement and revenue it delivers to top retailers. “Coherent Path is transforming the way retailers think about and engage with their customers,” said Paul Flanagan, Managing Director at Sigma Prime Ventures. “We’re thrilled to partner with James Glover and his team as they continue to build a great company,” added Tim Wright, General Partner at GrandBanks Capital. Both Flanagan and Wright are joining the Coherent Path Board of Directors.
“The team at Coherent Path is excited to push the boundaries of mathematics and analytics to help retailers understand and engage with their customers,” said James Glover, Co-Founder and CEO of Coherent Path. “We’re pleased with the value we’re delivering to marquee retailers and look forward to helping them best leverage their competitive advantages to build lasting customer relationships.”
About Coherent Path, Inc.
Coherent Path helps top retailers increase loyalty, drive in-store purchases, and optimize customer engagement around long-term objectives. Using a patented, cloud-based combination of mathematics and technology, Coherent Path builds maps of product and transactional environments and identifies unique customer journeys through these geometric spaces. With this foundation, retailers can deliver personalized multi-step offers, optimize promotions around products that increase customer lifetime value and realize a 20%-40% lift in key engagement metrics as well as revenue.