New Funds for eCommerce Personalization Firm Nosto

Helsinki, Finland-based eCommerce personalization platform Nosto has raised $16m in a new round of funding, which it will use to continue developing its technology and make new acquisitions.

Nosto's AI-powered commerce experience platform enables personalization and merchandising for eCommerce and online brands. The firm uses shopper behavioral data to help online brands deliver relevant experiences at every touchpoint, across devices.

New funding comes from Mandatum Asset Management's Growth Equity team, adding to earlier investments from OpenOcean, Wellington Partners, Eurazeo and Tesi, among others. CEO Jim Lofgren (pictured) says of the news: 'Not only are we leveraging recent developments in semantic search and natural language processing, but we're also unlocking valuable search data that is often siloed within point solutions. This fundraise represents a shared vision for the opportunities that lie ahead in the eCommerce space for both Nosto and our merchants'.

The firm, which also has offices in New York, Los Angeles, London, Kaunas, Paris, Berlin, Stockholm, Salzburg and Sydney, is online at www.nosto.com .