Smarter Remarketer, the leading provider of customer intelligence for multi-channel retailers, today announced it has secured $7 million in venture financing in a round led by Battery Ventures. As part of the financing Battery General Partner Neeraj Agrawal is joining the company’s board. In just four years since its founding, Smarter Remarketer has demonstrated impressive year-over-year growth and success with some of the nation’s largest retail brands.
Battery Ventures is betting big time on the retail intelligence space. The Valley venture heavyweights poured $7 million into Smarter Remarketer, an Indianopolis-based startup whose flagship SR2 Big Data platform provides e-commerce sites with actionable intelligence on customer trends and buying habits. Battery was the only investor. Smarter Remarketer chief executive Walter Bates, 60, breathed a sigh of relief over the negotiations that led to this latest tranche of funding, because, as he said, “We were so happy to get the validation from Battery. Their due diligence process is exhausting.” The startup was launched in 2010 with $4.2 million from angel investors and is the brainchild of retail marketing expert and co-founder Angel Morales.