In-store data platform provider CloudTags has secured $2 million in funding. IDEA Fund Partners, Alerion Ventures, Knoll Ventures and Hallett Capital led the round.
Atlanta, GA — May 19, 2015 — CloudTags, creators of the data platform for the physical store, announced today that they have raised an additional $2 million to launch a new service called In-Store Remarketing. The omnichannel CloudTags data platform allows customers to research products while in the store via mobile tablets, create lists, and opt-in via email at the end for consideration afterward.
The new In-Store Remarketing services enable personalized online communications via email and display after a store visit to increase sales and ROI. In addition, CloudTags will ramp up sales and marketing efforts to continue its growth, meeting the demand of omnichannel retailers. The funding was led by IDEA Fund Partners, Alerion Ventures, Knoll Ventures and Hallett Capital and follows two previous rounds raised by the company.
“Our unique focus offers retailers the ability to know a much greater percentage of customers in their store prior to purchase in order to increase sales via retention marketing,” said James Yancey, CEO of CloudTags. “We’ve now proved that trying a product in a physical store, followed by personalized digital marketing communications, significantly improves omnichannel buying behavior. We’re excited to offer this new service to our clients in both the US and UK.”
“Opportunities for retailers to connect their online and offline customer experiences are increasing through advances in technology. CloudTags provides unique CRM capabilities to identify new store customers digitally in an opt-in manner with demonstrable increases in average order value,” said John Cambier, Managing Partner of IDEA Fund Partners.
“As the first retailer utilizing In-Store Remarketing as part of our omnichannel strategy we’ve seen astonishing results. The idea that customers who have physical product experiences in the store are willing to spend more than those who have online-only product experiences makes sense. The fact they are over 10 times more likely to engage with our in-store driven ads ensures we’re having the right conversations with our most valuable customers. We’re excited to have expanded these services across all of our stores,” said Oliver White, Ecommerce Director for Heal’s.
CloudTags is the data platform for the physical store, powering customer identification, predictive intelligence, & remarketing to increase sales. Powered by its omnichannel smart tags, sensors, and devices, CloudTags lets shoppers digitally explore using the retailer’s existing content from the product feed with ease. The technology requires no POS integration with retailers – offering simple implementation in less than 30 days.
Retail tests show that at least 85 percent of customers that engaged in-store via CloudTags by providing their email were previously unknown to the retailer. Additionally, the technology has demonstrated strong results:
30% of customers digitally interacting with physical store products
50% or greater of those opting-in via email
20% click-through rate back to the website after leaving the store – increasing average order value by at least 10%.
CloudTags currently works with numerous Fortune 1000 companies and is available in select retail stores in the U.S. and U.K.
For more information or to connect your store with CloudTags, visit www.cloudtags.com.