E-commerce personalisation platform, RevLifter has successfully raised £2.3 million in seed funding led by a syndicate of investors that includes Coutts. The funding will help support the growth of the two-year-old company that has disrupted the voucher code space through its AI-driven platform to power incremental revenue through personalised deals for over 90 global brands across five markets.
Further to the announcement, RevLifter has confirmed that former Goldman Sachs managing director Jonathan Summers will be joining the Board. This follows the recent appointment of general manager of North America Jim Harriman as the company continues to boost its presence in the US where growth is rising as consumers’ appetite for deals and incentives thrive. The US currently accounts for 30% of RevLifter’s customer base with the management team forecasting that the country will account for 70% of its business by 2022.
Following award wins at the 2019 Performance Marketing Awards in addition to investor funding and big retailer adoption, RevLifter has taken the affiliate marketing industry by storm thanks to the platform’s innovative AI-powered Deal Intelligence Engine, which allows clients to set sophisticated rules around personalised incentives to transform the role of deals at the checkout stage on e-commerce websites. These rules can incorporate any desired deal trigger that relates to individual users such as geo-location, weather, customer lifetime value or knowledge of whether the user is a new or existing customer.
“Deals are currently pre-planned, off-the-shelf promotions for the masses or involve customers searching Google for discount codes with third-party voucher sites for offers that actually negate your marketing strategy. We’re opening marketers’ eyes to the potential for deals to achieve whatever it is the business strategy demands. It could be a fashion brand aiming to encourage more customers of certain sizes or an electronics retailer wanting to maximise profit margins per basket. The reality that they can do this while better meeting the individual needs of every single customer in real-time, represents a huge opportunity,” said Simon Bird, co-founder of RevLifter.
“RevLifter creates opportunities for retailers to stamp a unique DNA on customer incentives according to their goals. We use AI to drive real-time relevance for customers, turning the deal from a blunt axe to a laser-targeted bomb. We’re adding more precision across more marketing channels all the time and are working towards a future in which deals are no longer a slightly dirty, loss-leading ‘extra’ but are used to drive the entire business and customer engagement strategies,” commented Ryan Kliszat, co-founder of RevLifter.
RevLifter’s client portfolio already includes leading brands such as HP, Puma, EE, Carphone Warehouse (mobiles.co.uk), Verizon, AT&T, AO, TM Lewin, Clarks, and The Hut Group.