California Business Startup Obtains $8 Million In Venture Capital
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporationposted in Business Formation & Planning on Tuesday, March 11, 2014.
The retail business can be quite competitive. This means retailers are always looking for any way to obtain some type of competitive edge. One technology company in California has recognized this need and is now looking to profit from servicing retailers. The new business startup has recently secured $8 million in venture capital in a Series B funding round.
For Reflektion, the new business startup, real-time analytics reports have aimed at predicting the next purchases of shoppers. This gives a retailer an advantage by enabling improved customer engagement. Nike and Intel Capital are the main investors in the Series B funding round for Reflektion. The new company will use the newly secured venture capital to enhance its marketing and sales campaigns.
Reflektion processes large sets of data and then applies it to machine-learning techniques patented by the company. The technology works well with the most commonly used e-commerce systems. The new investors were convinced about the company's service due to results achieved by large brands and retailers. The company believes that its new technology can completely change the landscape of the retail sector.
On the other hand, ultimately the new business startup in California will need to have a thorough business plan in order to ensure success. Also, a comprehensive plan is required to convince potential investors to provide venture capital in order to later gain a profit from the company's future successful endeavors. However, the business plan should also take into consideration any possible risks of legal liabilities, which should be mitigated in the plan's implementation.
Source: Venture Capital Post, California analytics startups Reflektion scores $8M in second financing round : Regions, No author, March 4, 2014