TEL AVIV, Israel, January 19, 2016 /PRNewswire/ --
Online seller profiling company eRated™, today announced that it has closed a $1.7 million seed round led by Spinach Angels. Also participating in the round are Techstars and leading UK angel investors.
With the funding, eRated will accelerate delivery of its online profiling solution for online marketplace users, establishing a unified, holistic user profile comprised of validated web data from hundreds of siloed repositories.
Even though 90% of online sellers are active on multiple platforms, customers and marketplaces are blind to the seller's history on other sites. As a result, customers are hesitant to transact, sellers lose sales opportunities and online marketplace growth is stunted - as sellers need to reestablish their selling history, ratings and credentials for each new platform.
eRated's solution enables marketplaces and classifieds to leverage existing web profiles, building their online businesses faster and more profitably. To date, eRated profile more online sellers by evaluating web-wide parameters like their sales performance, customer satisfaction (reviews & ratings) and their social graph. The solution cuts out inefficiencies onboarding and verifying new sellers, and provides unparalleled abilities to monitor and optimize sellers' performance through external data. eRated's universal profiling has helped 17 online marketplaces sellers boost sales an average of 56% per profile - including global marketplaces such as TripDa.
eRated creates a holistic online seller profile by importing scattered seller details, integrating them and presenting a unified, weighted, validated profile.
"The funding will enable us to deepen our holistic, smart-analytics approach to understanding seller's web-wide profiles. Our marketplace partners are unlocking increased sales from day one." stated Boaz Cohen, eRated Co-founder and CEO. "They are excited by eRated's ability to understand a customer's full profile and convert those scattered facts into improved seller's life time value and sales."
eRated is the web-wide seller profiling solution for online marketplaces. eRated creates a holistic, seller profile by importing scattered seller details, integrating them and presenting a unified, weighted and validated profiling. eRated's single seller profile leverages seller's existing sales performance data, customer reviews and social graph so customers are more comfortable to transact and marketplaces can onboard new sellers faster and more profitably.
eRated's team are graduates of Israel's Zell center for entrepreneurship with a track record in identity management. eRated's leadership are graduates the IDF's prestigious 8200 & MAMRAM units, Techstars and Masschallenge. Visit http://www.eRated.co to learn more.