Blue Triangle Technologies has received $857,750 in funding. The investors included Blu Venture Investors, Center for Innovation and New Dominion Angels. Based in Richmond, Virginia, BTT is data analytics platform provider that helps online retailers optimize web pages.
Richmond, VA (PRWEB) December 16, 2014
Blue Triangle Technologies, a strategic, results-oriented emerging leader in eCommerce technology and multi-platform commerce analytics, has announced its latest funding round closed at $857,750 in November.
Blue Triangle Technologies (BTT) offers a SaaS-based predictive analytics platform that combines application monitoring, business intelligence and web analytics. It allows online retailers to identify existing revenue “leakage” on their web sites and to understand how to optimize web pages to maximize revenue. BTT does this by unobtrusively gathering data from visitors, analyzing page speeds and cart abandonment rates, which help produce recommendations for each web page. This enables customers to prioritize resources to remediate issues on their sites, ultimately optimizing the ROI of web site re-engineering, network infrastructure spend, and marketing efforts.
“Most online retailers have between 10-15% in revenue leak that they fail to capture; leakage that equates to significant unrealized revenue that merchants could otherwise be earning. Our platform allows retailers to pinpoint the location of the leakage and provides the necessary data to correct the problem. By taking corrective and targeted action, the merchant is able to realize the full potential of the eCommerce site and in turn recognize missed revenue potential. The investment from Blu Venture Investors, Center for Innovation, New Dominion Angels and our Private Investors will allow us to continue our proof of concept trials while providing us with the ability to expand our marketing and engineering efforts,” shared Blue Triangle Technologies, Inc. CEO Donald E. Foss.
“The technology solutions that Donald Foss and the team at Blue Triangle Technologies has developed and delivered to eCommerce merchants are outstanding examples of the emerging technology companies that exist in the Commonwealth of Virginia. The tools and solutions BTT delivers are specifically targeted at helping mobile and online merchants recognize the full potential (revenue) of their eCommerce websites through the use of advanced analytics. The company’s vision is carried out by a seasoned management and development team built around the vision of helping retailers recognize the full potential of their online commerce sites,” stated Pradeep Kaul, Principle at Blu Venture Investors.
About Blu Venture Investors
Blu Venture Investors is a venture capital investment company that supports early stage entrepreneurs in the Mid-Atlantic Region – Maryland, Virginia, Washington, DC and North Carolina. Our investors are experienced, successful operating executives with experience in a broad range of industries and business models. Each of our investors has successfully launched new companies, products or services. Information on Blu Venture Investors can be found at http://www.bluventureinvestors.com/about.
About the Center for Innovative Technology
Since 1985, CIT, a nonprofit corporation, has been the Commonwealth’s primary driver in developing innovation-based economic development strategies and opportunities. CIT accelerates the next generation of technology and technology companies through commercialization, capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers. Follow CIT on Twitter @CITorg and add the Center for Innovative Technology on LinkedIn and Facebook. Visit http://www.cit.org to learn more about the Center for Innovative Technology.
About New Dominion Angels
New Dominion Angels is an investor group formed to capitalize early-stage Mid-Atlantic-based companies. We are not a managed fund. We are a group of like-minded members who make individual decisions whether to invest in companies that present to the group. The purpose of New Dominion Angels is to positively impact the communities and the economy of Virginia by helping to bring new products and services to market, support Virginia start-up businesses in both financial and non-financial ways and to learn from all our stakeholders and from each other, and to enjoy the process while earning fair, risk-adjusted investment returns. Learn more about New Dominion Angels by visiting our website http://www.newdominionangels.com.
About Blue Triangle Technologies:
Blue Triangle Technologies is the maker of eRevenueView, eBrandView and eRevenueAccess, products that measure real users conducting real transactions and correlates the impact that speed has on conversion rates. This is strategic information that enables better business decisions by providing performance targets that support significant increases in site revenue. To learn more about Blue Triangle Technologies visit us at http://www.bluetriangletech.com or call 804.723.2446.