Movable Ink today announced plans to acquire Coherent Path, the AI-powered content personalization engine that allows some of the world’s leading brands to help customers find their next favorite product. Acquiring Coherent Path aligns with Movable Ink’s mission to revolutionize customer-centricity and the individualized marketing messages brands need to truly put their customers first.
Coherent Path aggregates data from a variety of sources, then takes that data and applies artificial intelligence to help customers discover their next favorite product. The AI platform creates unique content personalization paths that naturally guide customers toward higher-value products. This means consumers find exactly what they’re looking for while marketers increase customer lifetime value and build loyalty.
“Every company on the planet wants to put their customer at the center of what they do. Personalization has become the new strategic imperative. Despite unprecedented access to data, marketers have not been able to understand recent behaviors and quickly shift their marketing to changing customer tastes. Existing production processes fall down when one has to create millions of unique experiences at speed and scale,” said Vivek Sharma, CEO and Co-Founder of Movable Ink.
“With Coherent Path’s acquisition, we’re bringing a game-changing AI technology to marketing teams everywhere. Whereas many current machine learning systems simply reinforce known customer behavior by recommending products similar to those customers have already purchased, Coherent Path’s unique approach focuses on discovery. Customers are guided to their next favorite products, categories, and content, through AI that organically shapes content personalization to fit each customer's evolving tastes and guides them to new areas across the product catalog. This is a potent solution when combined with Movable Ink’s data access, content personalization, and cross-channel personalization capabilities,” added Sharma.
“Coherent Path and Movable Ink have a shared vision of how the power of data and technology can transform marketers’ strategies and drive incremental, lasting value,” said James Glover, CEO and Co-Founder of Coherent Path. “We are excited to combine forces with Movable Ink to transform marketing from guesswork into a science that delivers powerful ROI.”
The acquisition of Coherent Path by Movable Ink will enable marketers to better understand customer intent, activate any data, and serve the perfect, personalized content in an automated way across a variety of customer touchpoints.
"We've been leveraging Movable Ink and Coherent Path to optimize and automate our email marketing program for several years now and have seen exciting results, including significant lifts in engagement and revenue," said Sean Duffy, Vice President – Contact Strategy & Search, Bloomingdale’s. "With Coherent Path's AI and Movable Ink's ability to automate the creation of millions of variations of personalized content, this union is a win-win for Bloomingdale’s as we work to increase production efficiencies and provide our customers with relevant content that enhances our relationship with them. We're eager to see how Coherent Path and Movable Ink build upon their unique value propositions together to help us take our personalization efforts to the next level and drive increased revenue."
With the addition of Coherent Path’s 50 employees, Movable Ink will cross 500 employees globally.
For more information, check out Movable Ink’s press release announcing the acquisition.