Nosto, a New York-based provider of a commerce experience platform (CXP), raised $16M in funding.
The round was led by Mandatum Asset Management’s Growth Equity team (MAM GE), with participation from OpenOcean, Wellington Partners, Eurazeo, and Tesi.
The company intends to use the funds to scale its personalized site search solution globally, accelerating the development of its platform.
Led by Jim Lofgren, CEO, and Juha Valvanne, Founder and Chief Corporate Development Officer, Nosto enables online brands to deliver experiences at touchpoint, across devices. The AI-Powered Commerce Experience Platform (CXP) empowers brands to build, launch, and optimize compelling digital experiences without the need for dedicated IT resources or lengthy implementation processes.
Nosto supports its clients from its offices in New York, Los Angeles, London, Kaunas, Paris, Berlin, Stockholm, Salzburg, Sydney, and Helsinki. Since its founding in 2011, its technology has been used by over 2,500 global commerce brands such as Paul Smith, Kylie Cosmetics, Muji, Dermalogica, Centric Brands, and Princess Polly, create their online experience for shoppers.
