FACT-Finder Acquires Real-Time AI Personalization Provider Loop54
PFORZHEIM, Germany, STOCKHOLM and Hamburg, germany, 20 October 2021 / PRNewswire / – FACT-Finder today announced the acquisition of Loop54, making it one of the first major consolidations of leading e-commerce SaaS solutions in search, merch and personalization . The merger of their proprietary algorithms will allow FACT-Finder customers to deliver unique digital experiences to the market and further expand FACT-Finder’s international presence.
The acquisition accelerates innovation in e-commerce solutions for FACT-Finder’s customers and partners, giving them access to the latest developments in machine learning and artificial intelligence and providing them with an ongoing competitive advantage. The integration of Loop54’s artificial neural network into FACT-Finder will advance the quality of product discovery in online stores, providing unique and responsive results with minimal data requirements.
With an intuitive backend designed for business users, each member of the ecommerce team will have the power to implement changes on their own without monopolizing valuable IT resources. And with the help of AI and ML, optimized search and customization comes out of the box, providing the perfect balance between automation and control. This union of cutting-edge technologies provides brands, retailers and partners with the best and smartest tools to grow their businesses.
Emile Bloemen, CEO of FACT-Finder, emphasizes: “With the expertise and unique approach that our new colleagues at Loop54 bring, we will significantly expand our market leadership and push the boundaries of what is possible in e-commerce. I was really impressed with Loop54’s real-time personalization technology, especially in combination with the small amount of data it requires. Considering their large market share in Scandinavia and our cultural fit with passionate, professional and friendly people, we knew this would be the perfect match for FACT-Finder. “
Robin Mellstrand, CEO and co-founder of Loop54, describes: “Ten years ago, Mike odin, Joel kall and I got the idea to develop a custom product search algorithm to improve the relevance and speed of AI-powered online shopping. Today, we are the only vendor in the market to offer individual personalization in finding products with such high performance, ultimately solving a key challenge in online customer experiences. Our driving force remains the expansion of this innovation into e-commerce businesses around the world. By joining forces with FACT-Finder, we are able to expand our innovation potential and reach a wider customer audience through FACT-Finder’s leadership position in the DACH region. This is why this acquisition is very important and exciting for us. “
In spring 2021, FACT-Finder announced its new entrepreneurial partnership with GENUI, a Hamburgbased investment company. Boris Klenk, Director of Investments at GENUI, said: “With the acquisition of Loop54, we are not only strengthening the core offering of both companies, but we are also taking a big step forward to continue our international growth.
FACT-Finder Next Generation has been voted Best Site Finder Solution for three consecutive years. This cutting-edge e-commerce technology combines all the functions of the digital store that get customers to the right products in record time. Complete with search, merchandising, personalization, recommendations as well as innovative AI solutions like the predictive shopping cart, FACT-Finder is designed to dramatically increase conversion and sales. That’s why more than 1,800 B2B and B2C companies around the world, including Mytheresa, Elkjøp Nordic, Mercateo and Distrelec, trust FACT-Finder.
Loop54 is the developer of one of the most powerful artificial intelligence-based e-commerce platforms, as well as the leading provider of on-site search in the Nordic countries. With its in-house developed algorithm, Loop54 offers real-time individual personalization that provides users with relevant search results at high speed to leading e-commerce companies including Office Depot, Not on the High Street and Olivier Bonas.
GENUI is a company founded by renowned entrepreneurs and investment experts who believe in good entrepreneurship. GENUI engages exclusively in the long term with companies in order to create sustainable growth and social value. Companies benefit from professional governance by having access to entrepreneurs with industry-relevant expertise and their corresponding networks.