NEW YORK, Feb. 16, 2022 /PRNewswire/ -- Movable Ink, the leading content personalization provider, announced today that it intends to acquire Coherent Path, the AI-powered content engine powering some of the world's biggest brands.
Coherent Path aggregates data from a variety of sources and applies AI to map each customer's unique product discovery path and guide customers towards new products that deliver greater lifetime value for brands and customers alike. Unlike traditional algorithms that reinforce what customers already like, Coherent Path helps customers discover new products that they'll love while also meeting the brand's goal of delivering the most value to a customer relationship. Marketers still retain the ability to define business rules and own strategic brand goals; Coherent Path just helps marketers reach those goals faster.
Coherent Path will be integrated into the Movable Ink platform to help marketers intelligently and automatically adapt their messaging while maximizing the ROI of their marketing programs. Movable Ink continues to focus on content-level personalization by automatically generating content while seamlessly connecting into existing martech investments like ESPs and Marketing Clouds.
"Every company on the planet wants to put their customer at the center of what they do. Personalization has become the new strategic imperative. Despite unprecedented access to data, marketers have not been able to understand recent behaviors and quickly shift their marketing to changing customer tastes. Existing production processes fall down when one has to create millions of unique experiences at speed and scale," said Vivek Sharma, CEO and Co-Founder of Movable Ink.
"With Coherent Path's acquisition, we're bringing a game-changing AI technology to marketing teams everywhere. Whereas many current machine learning systems simply reinforce known customer behavior by recommending products similar to those customers have already purchased, Coherent Path's unique approach focuses on discovery. Customers are guided to their next favorite products, categories, and content, through AI that organically shapes content to fit each customer's evolving tastes and guides them to new areas across the product catalog. This is a potent solution when combined with Movable Ink's data access, content generation, and cross-channel personalization capabilities," added Sharma.
"We've been leveraging Movable Ink and Coherent Path to optimize and automate our email marketing program for several years now and have seen exciting results, including significant lifts in engagement and revenue," said Sean Duffy, Vice President – Contact Strategy & Search, Bloomingdale's. "With Coherent Path's AI and Movable Ink's ability to automate the creation of millions of variations of personalized content, this union is a win-win for Bloomingdale's as we work to increase production efficiencies and provide our customers with relevant content that enhances our relationship with them. We're eager to see how Coherent Path and Movable Ink build upon their unique value propositions together to help us take our personalization efforts to the next level and drive increased revenue."
The acquisition of Coherent Path by Movable Ink will enable marketers to better understand customer intent, activate any data, and serve the ideal, personalized content in an automated way across a variety of customer touchpoints.
"Coherent Path and Movable Ink have a shared vision of how the power of data and technology can transform marketers' strategies and drive incremental, lasting value," said James Glover, CEO and Co-Founder of Coherent Path. "We are excited to combine forces with Movable Ink to transform marketing from guesswork into a science that delivers powerful ROI."
With the addition of Coherent Path's 50 employees, Movable Ink will cross 500 employees globally.
Canaccord Genuity LLC served as exclusive financial advisor to Coherent Path in connection with the transaction, and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. served as legal advisor. Cooley LLP served as legal advisor to Movable Ink.
For more information about Movable Ink, please visit: www.movableink.com.
About Movable Ink
Customers don't experience data, they experience content. Movable Ink activates any data into personalized content in any customer engagement. More than 700 of the world's most innovative brands rely on Movable Ink to accelerate their marketing performance. With more than 400 employees, the company is headquartered in New York City with operations throughout North America, Central America, Europe, Australia, and Japan.
About Coherent Path
Coherent Path is an AI content personalization company for top retailers seeking to transform their email programs into a modern data-driven channel focused on revenue. Our machine learning solution empowers retailers with the optimal themes and categories they should feature in today's campaigns while continuously learning to inform the campaigns of tomorrow, deepen the customer relationship, and grow future revenue.
SOURCE Movable Ink