TORONTO, Ontario, June 05, 2017 (GLOBE NEWSWIRE) -- GroupBy Inc. (www.groupbyinc.com), a leading provider of relevancy-focused eCommerce solutions and one of Canada’s fastest growing technology companies, today announced that it has acquired US-based product data enrichment software provider, Edgecase. The acquisition marks the industry’s first integration between an eCommerce search and merchandising provider with a data-driven product intelligence platform creating the most comprehensive cross-channel digital commerce solution to-date.
“Solving the relevancy issue associated with eCommerce site search and ultimately delivering a vastly improved user experience is now a reality for the retail industry as we join GroupBy together with Edgecase,” said Roland Gossage, CEO, GroupBy Inc. “In the increasingly competitive world of digital commerce, we have seen incredible success with our Searchandiser platform with some of the world’s leading online retailers. Now, with Edgecase, we are able to compound those efforts with a level of product data intelligence that is unparalleled in today’s market.”
Industry experts are forecasting as many as 88% of online retailers are looking to switch to a new eCommerce platform within the next 2 years[1]. This industry shift is set to generate over $2.1 billion in spending on new eCommerce technology[2] which represents more than 3X the spend from a decade ago. The combination of GroupBy and Edgecase creates an end-to-end site search and merchandising retail platform steeped in consumer personalization and product intelligence technology that improves conversation rates, site performance and overall user experience. Both companies are confident that this acquisition represents the underpinning of the retail industry’s next-generation eCommerce platform.
GroupBy has designed, developed and delivered the industry’s foremost eCommerce platform centered around intelligent search that fuses together machine learning and hand curation tools providing retailers the ability to enhance the consumer experience and demonstrably grow revenues throughout the entire consumer journey. Edgecase focuses on unlocking the power of rich product data and allowing consumers to more easily find the products they are seeking thereby converting more shoppers into buyers. While both solutions deliver deep value as a standalone offering, they drive even stronger performance when integrated.
Edgecase brings with them an impressive customer base including Crate & Barrel, Pier 1 Imports, Jos. A. Bank, Columbia, John Varvatos and Lancome. GroupBy’s client base includes Urban Outfitters, CVS, Cabela’s, Zoro Tools, Systemax, Cineplex, The Container Store, and dozens more. The two companies also share mutual undisclosed clients. Together, both companies’ clients will have access to the industry’s most comprehensive digital commerce platform on the market today.
“We have been immensely impressed by GroupBy’s positive impact on the retail performance of their international client base,” said Susanne Bowen, CEO, Edgecase. “At Edgecase, we are proud to have unlocked the power of dozens of retailers’ product data and vastly improve their ability to meet the desires of their consumers online. We are committed to continuing the level of quality service our customers have come to expect and now with GroupBy, the power of our two companies brings exponential benefit to current and future clients.”
Edgecase, based in Austin, Texas will become GroupBy’s US headquarters. The Company’s corporate headquarters will remain in Toronto, Canada.
Terms of the agreement are not being disclosed.
About GroupBy Inc.
GroupBy Inc. transforms the way retailers interact with their consumers online through data-driven commerce, media, and knowledge management software solutions. The company supports the online retail efforts of many of the world’s leading online retailers by driving more targeted site traffic and increases in revenue through its platform Searchandiser. GroupBy’s solutions provide industry-leading features for search, navigation, merchandising, search engine optimization (SEO) and search as you type (SAYT). Founded in 2014, GroupBy is headquartered in Toronto, Canada and has offices around the world. For more information, please visit www.groupbyinc.com.
About Edgecase
Edgecase empowers retailers and brands with the enriched product data and actionable insights necessary to improve product findability and relevancy - fueling an inspiring shopping experience. Our powerful cloud platform brings together the best of machine intelligence and human curators to create, manage and optimize product attribute data at the scale, speed, and quality retailers demand. The power of Edgecase data is changing the game for retail and brand leaders such as Jos. A. Bank, Pier 1, Lancôme and Crate and Barrel.
Edgecase was founded in 2012 and is based in Austin, Texas. The team is comprised of passionate and innovative thinkers who know that company success is created through the powerful combination of unique technology, expertise and deep client relationships.
[1] Internet Retailer 2017 Ecommerce Report – based on 96 e-retail respondents (breakdown of 17.1% “in the midst of change”; 34.3% “changing within the year”; 37.1% “changing within 2 years”)
[2] Forrester Research Inc – Estimate of ecommerce technology spend (existing and improvement) by 2019.