In a bid to develop a personalised e-commerce marketing (PEM) SaaS solution, SaaS business intelligence (BI) company Knolseed Technologies and business analytics and research firm Knowledge Foundry have joined hands. Knolseed has been acquired by Knowledge Foudry for this SaaS solution and other future products to be launched. The PEM SaaS solution is being run in pilot mode currently and will be out publically in a few weeks.
Post acquisition, Knolseed Technologies' founders, Raghuram Sreenath and Mohan Varadarajan have joined Knowledge Foundry as VP, engineering and VP, products respectively, to lead development of the SaaS solution that they are jointly developing for PEM. The rest of the Knolseed development team now forms the product team and the engineering team at Knowledge Foundry.
Though the exact value of the deal is undisclosed, Rajeshkumar (Raj) Bhatt, CEO of Knowledge Foundry said, "It is a combination of money and equity. The valuation is based on a formula driven by revenues generated by the jointly developed products over the next 18 months."
"We plan to launch several SaaS BI and analytics products using the capabilities that the Knolseed team has. The first expectation is the successful launch and commercialization of the personalized E-commerce marketing (PEM) solution. This solution will allow e-commerce companies to perform advanced customer segmentation (based on purchase, browsing, and customer care behavior), personalized recommendations, and campaign management," Bhatt said.
The company will add new features like digital attribution and smart re-targeting in future and has other product plans in the pipeline, according to him.
Knolseed Technologies is known for its flagship product the BrewCharts SaaS BI Suite, which is delivered as a white-label solution in alliance with several B2B partners. Knowledge Foundry is a business analytics and research firm founded in 2008. It serves global clients in the retail, consumer goods, financial services and the telecom & technology verticals.
"Knolseed has been collaborating with Knowledge Foundry in the past. We felt the need to take our collaboration to the next level as we roll out the personalized e-commerce marketing (PEM) SaaS platform," said Varadarajan, co-founder of Knolseed Technologies. "We felt this is the right time to align our energies and go to our clients as one organisation," said Sreenath, co-founder of Knolseed Technologies.
(Edited by Prem Udayabhanu)