4-Tell Closes Series A Funding
4-Tell Inc, provider of personalized product recommendation software for ecommerce companies, has closed $1MM of Angel funding in its Series A round. Investors include Craig Froude, former CEO of WebMD, Steve Sliwa, former CEO of Insitu (acquired by Boeing), Bruce Davis, CEO of Digimarc, Doug Fieldhouse, CEO of Vesta, The Yoshida Group, Gorge Angel Investor Network, members from Keiretsu Forum and the Portland Seed Fund.
Used by 60+ online retailers, typical results include more than 3 times the conversion rate, pages viewed per visit, and time on site for shoppers who click on 4-Tell recommendations. The 4-Tell Boost™Recommendation Engine provides product and content recommendations which improve the customer’s shopping experience and increase sales for the retailer. Some of 4-Tell’s clients include Columbia Sportswear, Sgt. Grit, ExOfficio, Royal Yarns, and Icebreaker.
Proceeds from the funding round enable 4-Tell to help all online retailers compete on a level playing field. “There were skeptics who didn’t think it could be done. However, we built a solution that automatically works with all products, from yarn to car parts to whitepapers, and can be setup within an hour without the retailer doing any coding. And, the resulting increase in sales is amazing” said Ken Levy, Cofounder and CEO of 4-Tell. “The funding will help expand our reach to more retailers, and across all channels, including web, social, mobile and email. Recommendations in cart abandonment and shipping confirmation emails are a big focus for us in 2012. This is cutting edge stuff.”
The investment has already allowed the company to expand, adding 2 programmers to its staff and Wendi Makuch as Director of Marketing. Wendi brings a passion for the mid-market and is delighted to join 4-Tell’s management team. Her activities will drive acquisition of both strategic online platform partners and retailers. “Online retailers of all sizes need to be able to offer a better, more engaging shopping experience in order to stay competitive,” said Wendi.
4-Tell has been growing at 22% month over month in 2011 since we are uniquely positioned to serve online retailers by having the right product, at the right price, right now. Increasing sales with instant integration makes 4-Tell a leader in personalization and business intelligence solutions.
About 4-Tell, Inc.
4-Tell, a privately held company, increases sales by automatically recommending products that online shoppers are likely to buy. 4-Tell has broken away from the rest of the pack by designing the Boost™ Recommendation Engine to work for all products, instantly integrate, and provide a significant increase in sales for the retailer. 4-Tell works in every channel, including web, social, mobile and email. 4-Tell has helped existing clients increase sales by 25%. For more information visit https://www.4-tell.com
Wendi Makuch, Dir of Marketing
- The Oregonian, January 22, 2012: Oregon venture capital investment totals $238.6 million in 2011
- The Oregonian, January 11, 2012: Portland Seed Fund could hit $3 million mark