NEW YORK, NY--(Marketwired - November 04, 2013) - Blucarat, the developer of social commerce solutions for online retailers, has just exited a planned incubation period and secured $1 M in financing from private investors. The funding will be used to further develop and commercialize the Blucarat global social commerce platform used by online retailers to grow social communities and convert them into customers. Blucarat was incubated within MDC Partners (NASDAQ: MDCA), a partnership of some of the world's leading marketing agencies, which now owns a minority stake in Blucarat. During that incubation period the Blucarat Commerce platform was developed and deployed by nearly 50 leading commerce retailers worldwide.
"Social marketing is a staple for online retailers today but the new mandate is to convert these hard-won social engagements into new revenue," said Tom C. Kwon, founder and CEO of Blucarat. "The formal launch of our company following months of development has been long anticipated and we are primed to help marketers take advantage of these extraordinary opportunities."
Blucarat creates a vibrant community of shoppers directly on the retailer's native commerce site; and harmonizes the retailer's disparate social media presences around that central community. Blucarat is delivered via a Cloud-based platform that enables the exchange and sharing of real-time product reviews, recommendations and curated purchase inspirations contributed by friends, experts and like-minded shoppers. Leveraging patent-pending Social Commerce Core technologies, advanced Blucarat algorithms dynamically match browsers to fellow shoppers and specific products matching their interests. Commerce site visitors can now collaboratively shop -- and create new purchase paths for others -- through a customized opt-in Social Intelligence Bar that appears directly on the retailer's site.
"As the volume of social engagements grows, online users will be challenged when attempting to find the right information or brand advocate to assist in their buying decision. Blucarat's ability to dynamically tailor the social shopping experience is unique to the industry and is what finally delivers quantifiable results by establishing trust during the buying cycle," added Thomas Kwon. "We are excited that our investors believe in and share in our vision for accelerating social commerce."
Blucarat is currently in beta with select online retailers and will be commercially available later this year.
Blucarat delivers the first cloud-based solution to increase social engagements and conversions directly on retailers' websites. The patent-pending Blucarat Social Commerce Core platform employs a rich set of algorithms that dynamically match like-minded shoppers to one another and relevant products; creating new levels of trust during buying cycles. Blucarat integrates social conversations and shopping by bringing the best aspects of social directly within the core of commerce in a way never done before. For more information visit www.blucarat.com.