Dallas-based Kibo, an omnichannel commerce platform, has agreed to acquire Monetate, a testing and optimization provider. No financial terms were disclosed. Kibo is a portfolio company of Vista Equity Partners.
DALLAS–(BUSINESS WIRE)–Kibo, a leader in cloud commerce, today announced it has entered into an agreement to acquire leading testing and optimization provider, Monetate. The acquisition will expand Kibo’s personalization capabilities and will not only complement its best-in-class Certona solution but will also extend the reach of Kibo’s end-to-end cloud commerce platform. The combined solution set will deliver an unparalleled, best-in-class unified cloud commerce platform that will provide consumers with a robust, personalized omnichannel commerce experience.
As the market becomes more dynamic, the future of commerce is centered around the customer, and the key to creating a competitive advantage relies on personalization. The most successful retailers and brands understand their customers and realize they must go beyond disjointed point solutions and fully commit to a holistic, personalized customer journey. The addition of Monetate to Kibo’s commerce cloud offerings means its retailers and brands will be better equipped to curate, test, and optimize customer experiences intelligently and consistently wherever they occur — online, in-store, through mobile apps, via AI assistants, and more.
The addition of Monetate will enable Kibo to offer A/B & multivariate testing, content personalization, and audience building & targeting with an intuitive, self-serve user interface designed for merchandisers and marketers. Certona is the #1 Personalization Provider and Monetate is the #2 Personalization Provider according to the Internet Retailer Top 1000. Both Certona and Monetate were named Leaders in the 2019 Gartner Magic Quadrant for Personalization Engines, anchoring on their respective strengths of recommendations and testing. Clients of Monetate will continue to enjoy the exceptional service and support that they have come to expect while also having access to Kibo’s Order Management, eCommerce, and Certona personalization recommendations and search solutions.
“Providing a personalized customer journey is vital to brands and retailers in today’s competitive marketplace,” said David Post, CEO of Kibo. “Consequently, we’re going to heavily invest in personalization as part of our commerce cloud to outpace our competitors in providing both innovation and a holistic suite of solutions. With Monetate, we recognized the opportunity to acquire a market leader in discovery, segmentation, testing, measurement, and optimization. Through the combination of Certona and Monetate, we’ve created the leading personalization engine in the market, which will enable retailers to make the most of customer intent-driven data, deliver exceptional content experiences, and measure incrementality to optimize customer lifetime value at scale.”
“Monetate continues to be committed to providing our clients with capabilities to deliver the best experiences for their customers in every interaction over time. Our clients have leveraged our solution to deploy successful personalization strategies to drive growth and conversion,” said Stephen Collins, CEO of Monetate. “The opportunity to become part of a larger commerce platform with complementary products is exciting for both our clients and employees.”
Monetate, the global leader in Personalization software for consumer-facing brands, enables marketers to grow more of their customers into their best customers. Monetate’s industry-first Personalization Exchange allows brands to create a more relevant and personalized customer experience. Powered by artificial intelligence, the Monetate Personalization Engine enables brands to connect all of their data sources to make the most intelligent decisions possible regarding their interactions with each customer.
Founded in 2008, with offices in the U.S. and Europe, Monetate is used by leading brands around the world and influences billions of dollars in revenue every year for QVC, Newegg, Timberland, Patagonia, The North Face, and hundreds of other market leaders. Learn more at www.monetate.com
More than 600 B2B and consumer retailers and brands rely on Kibo to deliver personalized and connected shopping experiences across retail touchpoints. Kibo’s cloud commerce platform powers unified commerce and omnichannel fulfillment strategies and is built on an API-first, microservices architecture. The Kibo platform scales as clients grow their business, while maintaining a low cost of ownership and faster time to market than other commerce solutions.
At Kibo, we provide cloud commerce solutions inspired by your needs and designed to empower your teams. We’re at your side, committed to your financial success in an unpredictable world. Together, we can see further, think bigger, and climb higher.
Our software and services include eCommerce, Order Management, Personalization, and Mobile Point-of-Service for retailers, manufacturers, and brands. Whether you’re an eCommerce veteran or just getting started, B2C or B2B, our solutions are designed to power the shopping experience – from first click to doorstep – and to scale with you as your business grows. For more information, visit kibocommerce.com.