Sitecore continues $1.2bn growth plan with Reflektion acquisition
Sitecore has acquired San Mateo-based Reflektion, the AI-powered digital search platform designed to understand and predict patterns, context, and needs in order to convert shoppers into buyers.
According to the company, the combination of Sitecore and Reflektion enables Sitecore to engage, educate, and enable shoppers to make purchase decisions faster, increasing buyer confidence, long-term revenue, and overall customer satisfaction and loyalty.
The acquisition is a continuation of Sitecore's ongoing $1.2 billion growth plan, and will reportedly help marketers solve the information overload that is characteristic of traditional search solutions, and can leave customers unable to find and select the right product.
According to Sitecore, 93% of all online experiences start with search, making it an integral part of the customer buying journey. Reflektion is focused on elevating search into a conversational, guided experience that provides more personal, accessible, and tailored answers for the customer.
Reflektion's platform can be leveraged across all aspects of the Sitecore digital experience platform, from turning product data into understandable consumer-friendly language, through to better understanding shopper intent, behaviour and product preferences.
Reflektion includes complementary commerce, AI and personalisation capabilities that, alongside Sitecore's acquisition of Four51, Boxever, and Moosend, offer the ability to better deliver targeted intelligent, personalised and real-time information across channels, the company states.
Sitecore CEO Steve Tzikakis says, “Search is about more than just entering words into a box and hoping for the right results, it is the cornerstone of a digital experience.
"With Reflektion, a brand can add various types of search including personalized search, preview search, conversational search, and voice search.
"This reduces customers' effort and anxiety to find exactly what they need with more convenience and speed and leads to increased customer satisfaction with more conversions and revenue.
"Acquiring Reflektion reinforces Sitecore's position as the leader in digital experience technologies that meet customers in the moment with more relevant, intuitive, and human experiences.
Reflektion founder and chief executive officer Amar Chokhawala says, “Since its inception eight years ago, Reflektion has become recognised for its unique approach to search-product discovery technology.
"Our technology uses AI to adjust each consumer's digital experience, in the moment, based on diverse data from multiple channels. I am proud of the passionate team at Reflektion who has been successful in bringing our AI-first approach to many site-search deployments for large eCommerce and retailers websites.
"With Sitecore, the Reflektion team and customers will be able to continue to leverage the enhancement of digital experiences, leading to continued growth and results for all.