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Lucky Cart raises €3.6M to optimise promotions in the grocery sector
Dec. 13, 2018
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Lucky Cart, promotional intelligence specialist, announces having raised 3.6 million euros in a round led by Partech, Edenred, Pléiade Venture, Fa Dièse and Calao Finance.
Founded in 2011, Lucky Cart has developed a SaaS platform based on artificial intelligence, which enables retailers and suppliers to optimise the performance of their promotional investments by personalising the promotions sent to their customers.
“Every year, retailers and suppliers in France dedicate more than 10 billion euros to promotion but do not have the necessary tools to improve the performance of their investments, nor to measure the results. The outcome? 61% of promotions make a loss,” states Romain Charles, CEO of Lucky Cart, former Sales Director at L’Oréal and former member of the Executive Committee France-Benelux at Procter & Gamble.
The analysis of transactional data coupled with artificial intelligence and econometrics enables Lucky Cart to personalise all the elements which make up a promotion: the promotional mechanic (instant discount, redemption code or randomised discount), the generosity, the eligibility threshold and the validity period of the offer. “This approach enables our clients to obtain a return on investment of 4 or 53 whilst offering their customers a personalised buying experience, making them feel valued and understood. This in turn improves their loyalty,” continues Romain Charles.
This funding will enable the startup based in Paris to expand its Research & Development team and to deploy its personalised promotions technology to key actors in the grocery sector in France.
“We are very happy to support Lucky Cart in this next development phase, alongside the arrival of the talented Romain Charles from L’Oréal, who knows the notorious inefficiency of traditional promotions in the grocery sector. Lucky Cart’s ultra-personalised promotions solution benefits from a favourable regulatory framework in Europe and a lack of American competition, which is remarkable in the tech industry nowadays” , states Romain Lavault, General Partner at Partech.
Since its creation in 2011, Lucky Cart operates in France, Germany, Austria, The Netherlands, Belgium and the United Kingdom, on behalf of more than 150 clients including Intermarché, Casino, Carrefour, Unilever, Procter & Gamble, Pepsico, Henkel et Nestlé.
Learn more about Lucky Cart.