Taggstar UK Ltd is a leading provider of e-commerce technology that’s designed to convert online browsers into buyers. The cloud-based solution is delivering increased revenues for large UK and global e-commerce brands, such as Argos, Thomas Cook and Shop Direct, by influencing site visitors with data-driven product page messaging.
Taggstar’s patent pending technology – The Taggstar Trend Algorithm (TTA) – delivers real-time highlights on hot-selling items derived from consumer buying behaviour and the rate of sales of an item. Taggstar is experiencing success with the “Software as a Service” (SaaS) subscription model, which is initially offered as a free trial to businesses before any commitment is made to the full paid subscription package.
This is Taggstar’s second funding campaign with Funding Tree after a successful raise in Q4-Q1 2014/15. Since the first funding round, Taggstar has achieved the following:
– It has increased its monthly recurring revenues by c.170% since October 2014.
– Re-signed its contract (September 2015) with Shop Direct to grow the Taggstar application and help the brands deliver increased sales conversions.
– Converted Argos and Thomas Cook from trial to full clients.
– Currently has live trials with four major brands, including House of Fraser and due to go live with one of the largest global hospitality players.
– Taggstar have agreed commercial terms with the leading global market media agencies for a reseller deal whereby the media agency will offer the Taggstar product offering to its clients.
– Taggstar has been chosen to exhibit in the Ogilvy Retail Innovation Zone at the high profile unBound London event in December 2015.
– A strong pipeline of nine UK and multi-national businesses, including retailers and travel web sites in North and South America and the Far East (Malaysia, Indonesia and Thailand).
– Partnered with Tealium – the real-time consumer data management platform – with over 500 global customers; the companies are joint-marketing to their customers via global webinars.
– The business is working on new campaigns for Black Friday, a significant date in the online retail calendar that generated £810m in online sales in the UK alone in 2014.
– Over 50% increase in messages being served: the business is now delivering 150 million messages per month, up from 70 million (Q4 2014).
– Developing the software to incorporate more personalised messages to drive better customer engagement and higher sales conversion.