Demandware acquires CQuotient
Burlington, Mass. —Demandware Inc., a provider of enterprise cloud commerce solutions, has acquired CQuotient, a cloud personalization provider. The acquisition of CQuotient will accelerate Demandware’s plans to turn the data created across its community of retail brands into actionable insights for business optimization and differentiated consumer shopping experiences.
CQuotient applies advanced predictive science to the full shopper journey, including online and offline customer and product data, promotions and content. CQuotient’s is used by enterprise retailers including The Children’s Place, Staples and The Men’s Wearhouse.
Rama Ramakrishnan, founder and CEO of CQuotient, will become Demandware’s chief data scientist and will lead the company’s data-driven research and development initiatives. Graeme Grant, president and COO of CQuotient, will also play a management role at Demandware, defining and executing go-to-market strategies related to these initiatives. Demandware does not expect that this transaction will have a material impact on its 2014 financial results.
RetailROI partner and founder featured on CBS Evening News tonight
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CQuotient acquired by Demandware
Enterprise cloud commerce solutions provider Demandware has upped its predictive analytics game with the acquisition of CQuotient.
Demandware said the acquisition of CQuotient will accelerate its plans to turn the data created across its community of leading retail brands into actionable insights that empower retailers to optimize their business and differentiate consumer shopping experiences. That’s because CQuotient applies advanced predictive science to the full picture of the shopper journey, including online and offline customer and product data, promotions and content.
“The CQuotient team, which includes world-class engineers and data scientists, is a fantastic addition to Demandware.” said Tom Ebling, CEO of Demandware. “CQuotient has developed a proven approach to convert large, complicated data into highly personalized shopping experiences. The combination of CQuotient’s expertise and predictive technology with the data in our cloud platform will provide retailers with a competitive advantage that cannot be replicated by traditional on-premise solutions.”
Rama Ramakrishnan, founder and CEO of CQuotient said he was thrilled to join the Demandware team and looks forward to leveraging CQuotient predictive technology and data science expertise to deliver data-driven solutions that help retailers personalize the shopping experience and accelerate revenue growth.
“Our mission has always been to transform retail by applying rigorous predictive science to consumer data across channels,” Ramakrishnan said.
Ramakrishnan, a leading data scientist focusing on personalized retailing and the optimization of retail merchandising and marketing, will become Demandware’s chief data scientist and will lead the company’s data-driven research and development initiatives. Prior to CQuotient, Ramakrishnan was chief scientist and vp of R&D at Oracle Retail and ProfitLogic.