Bulgaria’s New Vision Fund 3 is leading a fundraiser for marketing automation startup Releva

SOFIA (Bulgaria), March 22 (SeeNews) – Bulgarian Domestic Revenue Operations (RevOps) growth and analytics platform Releva said it raised a total of $870,000 (€789,388) in a fundraising led by a Sofia-based venture capitalist New Vision Fund 3, or NV3.

The fundraising also saw the participation of local investment company HR Capital [BUL:HRC]Verto Invest of Belgium as well as several anonymous private investors, Releva said in a statement on Monday.

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The size of the stakes acquired and the valuation of the target company were not disclosed.

Founded in 2019, Releva relies on artificial intelligence (AI) in its tools for predicting purchase intentions using real-time big data. The platform can then drive sales by automatically sending highly personalized multi-channel messages via web, email, text and social media. Releva’s platform enables e-commerce businesses to forecast sales potential and respond to changes in the supply chain, dramatically boosting operations.

The new funds will be used to accelerate Releva’s operational development and support its overall strategy.

“We believe that the demand for marketing automation software as a service (SaaS) solutions will increase dramatically as e-commerce businesses must respond to the growing penetration of online channels and, consequently, increased competition. in the e-commerce market would require more differentiation in this area,” NV3 partner Aleksandar Terziyski said in the statement. He added that the investment is aligned with NV3’s strategy and strengthens the fund’s presence in the e-commerce and SaaS verticals.

New Vision 3 succeeds the Bulgarian venture capital funds NEVEQ I and NEVEQ II and is supported by the Fund of Funds in Bulgaria (FMFIB), the vehicle that manages the financial instruments co-financed by the European Structural and Investment Funds.

($ = 0.9071 euros)