The amount of 12 million dollars was raised by Personali, an online service that retailers use in order to adjust prices and discounts in real time. The funding process was led by Norwest Venture Partners.
Retailers can integrate Personali’s code into their online commerce presence. Afterwards, when a customer visits a page, the retailer will check with the rules that Personali has created for a specific product, which is based on things like consumer behavior, inventory, shelf life and profit margin. If it determines that it can have a better chance at closing a sale, the customer will be offered some kind of an incentive like a discount. As Peronali’s executives claim, this process allowed around 200 million dollars in incremental additional sales for the retailers during the past year.