TripleHop Technologies, a software firm that builds recommendation engines for companies doing business on the Internet, said two French-based investors have injected $3.5 million in a Series A funding round.
The New York-based TripleHop said the SPEF e-Fund, an affiliate of Banque Populaire Group, joined with Deutsche Asset Management (DeAM) to participate in the financing round. It is slated to remain open until early April to allow additional investors to participate.
TripleHop makes money by licensing its software, which is installed within Web sites, intranets, Wireless Web and voice portals and can also be accessed from call centers and interactive kiosks.
The company boasts that its flagship Matching Engine technology can allow clients to increase their conversion rates by recommending to their users the products that is most likely to met (the user's) specific preferences.
Additionally, TripleHop's clients can build a database of individual user preferences and use behavioral profiles for Customer Relationship Management (CRM) initiatives. TripleHop also powers a call center.
As part of the cash infusion deal, TripleHop said David West of DeAM and Kevin Allen of SPEF e-Fund would join its board of directors.
Reprinted from atNewYork.com