Peerius secures venture capital partner

Recommendation engine solutions company Peerius announced they secured significant capital investment from the private investment firm Venrex LP. The Peerius Recommendation and Discovery Engine are building a vast store of intelligence and analysis about online apparel. This underpins the generation of the highest performing recommendations in this sector.

Mark Esiri, Chairman of Venrex will join the Peerius Board commented: “In the present economic climate very sale is important and that’s just as true online as it is on the high street. The attraction to us was that the Company has proved beyond doubt that its recommendation technology generates increased sales for its clients; it now needs investment to accelerate roll-out in the online apparel market. We are delighted to have an opportunity to be part of Peerius’ success.”

Since 2007, Peerius have been developing a new Recommendation and Discovery Engine to serve the online apparel market. The Recommendation Engine captures all the actions, past and present, of every visitor to a site; the products they view, the products they select, the journeys they make to complete a purchase and the ones they abandon. It analyses click stream data, the content of each shopping basket using a number of dynamic behavioural models and other factors such as buying history and demographics. This enables Peerius to serve in real time product recommendations to each visitor that they are highly likely to be interested in. Since the Recommendation and Discovery Engine learns and adapts to visitor behaviour, it constantly updates and refreshes the recommendations so that only the most effective recommendations are served.