Stanford-Start X Fund-backed Jetlore has been acquired by Paypal, which will integrate the retail analytics platform into its own marketing and analytics package.
Jetlore, a US-based retail analytics platform co-founded by Stanford University graduates, has been acquired by payments processing services provider PayPal for an undisclosed sum, providing anexit for the university-backed Stanford-Start X Fund.
Founded in 2011, Jetlore has developed a machine learning-based analytics platform that provides retailers with insights based on consumer behaviour. The software can also synchronise the client’s marketing output across several channels.
PayPal will use Jetlore’s technology and talent to add new features to the Paypal Marketing Solutions service in a bid to strengthen its value proposition outside of the core payment processing business.
Jetlore’s co-founders include a pair of former Stanford PhD students – Eldar Sadikov, who studied computer science, and Montse Medina, who took leave from her computational and mathematical engineering post-doctorate to join Jetlore.
Medina and Sadikov were assisted by Sergey Andreev, who completed his PhD in engineering, software design and architecture at Eindhoven University of Technology.
Jetlore received an unspecified sum in a 2016 round led by JME Venture Capital which featured undisclosed additional investors, after raising another undisclosed amount three years’ previously from VC firms Fenox Venture Capital, Alsop Louie Partners, Charles River Ventures and Sierra Ventures.
Stanford-StartX Fund is among Jetlore’s early investors. The others include Holtzbrinck Ventures and Kibo Ventures.
