As people do more of their shopping online, getting people to buy once is not enough for marketers. Getting them to stick around is the holy grail.
Former Paypal and Facebook product and data analytics manager Emad Hasan just raised $8 million in Series A funding for his startup Retina, which he says helps brands like Dollar Shave Club and Madison Reed acquire and retain customers.
The round was led by Alpha Intelligence Capital and Vertical Venture Partners. Retina plans to use the funding to boost hiring and expand integrations with companies including Facebook, Google, Shopify, Segment, and Experian. Past investors include Comcast Ventures.
Retina uses artificial intelligence, machine learning, and data analytics to predict customers' lifetime value — the measure of a customer's total worth over the course of their relationship.
It claims to do this with a proprietary algorithm that looks at companies' order history and customer attributes and builds lookalike audiences to help them boost sales.
Below is Retina's fundraising deck.