Nosto, a New York-based provider of a commerce experience platform (CXP), raised $16 million in funding to accelerate Nosto’s mission to make every impression relevant.
The round was led by Mandatum Asset Management’s Growth Equity team (MAM GE), with participation from OpenOcean, Wellington Partners, Eurazeo, and Tesi.
The company intends to use the funds to scale its personalized site search solution globally, accelerating the development of its platform.
“Merchants using Nosto are growing quickly, and merchants using Nosto on the Shopify platform are growing quicker still. This investment will help us continue scaling our Commerce Experience Platform, supporting brands in their own growth ambitions. This fundraise represents a shared vision for the opportunities that lie ahead in the ecommerce space for both Nosto and our merchants,” says Jim Lofgren, CEO, of Nosto.
Nosto enables online brands to deliver experiences at a
Nosto AI-Powered Commerce Experience Platform (CXP) empowers brands to build, launch, and optimize compelling digital experiences without the need for dedicated IT resources or lengthy implementation processes.
Since its founding in 2011, its technology has been used by over 2,500 global commerce brands such as Paul Smith, Kylie Cosmetics, Muji, Dermalogica, Centric Brands, and Princess Polly, creating their online experience for shoppers.
Company: Nosto Solutions Oy
Funding Month: February 2023
Lead Investors: Mandatum Asset Management’s Growth Equity team
Additional Investors: OpenOcean, Wellington Partners, Eurazeo, and Tesi
Company Website: https://www.nosto.com/
Software Category: Commerce Experience Platform
About the Company: Founded by Juha Valvanne, Antti Pöyhönen, and Jani Luostarinen, Nosto provides a commerce experience platform—an integrated suite of data-fueled personalization and merchandising solutions. Nosto analyzes hundreds of thousands of data points across your store in real-time, to help you go beyond the numbers and see the individual. The company harnesses big data to build a deep understanding of your every customer in real-time, automatically predicting and delivering the most relevant shopping experiences at every touch point, across every device. Nosto supports its clients from its offices in New York, Los Angeles, London, Kaunas, Paris, Berlin, Stockholm, Salzburg, Sydney, and Helsinki.