Former True&Co Co-Founder Joins Team to Pursue Disruptive e-Commerce Initiatives
WALTHAM, MA and MENLO PARK, CA and HERZLIYA, ISRAEL--(Marketwire - Nov 5, 2012) - Battery Ventures today announced that former True&Co Co-Founder Aarthi Ramamurthy has joined the firm as an Entrepreneur-in-Residence (EIR) in its Menlo Park office. Ramamurthy will bring her deep background in commerce, product management and engineering to work alongside Battery's Consumer team, to help identify and create new e-commerce opportunities, in particular where Big Data can be applied to consumer applications.
"Five years from now, the way people shop will be very different from what it is today, thanks to personalization, curated discovery and applying big data," said Ramamurthy. "One of my goals at Battery is to help the investment team identify companies and ideas that are at the intersection of these trends. My previous startup, True&Co, was about using technology to craft a personalized experience that changed the way women shopped for intimate apparel. This is a great time to be an entrepreneur and I'm very excited to join Battery as an EIR."
Ramamurthy was most recently Co-Founder and the Head of Product of the e-commerce site True&Co, which launched at the AllThingsD conference this year, and has been covered in The New York Times, Forbes, The Today Show and other mainstream media. Prior to True&Co, Aarthi held key product positions at both Netflix and Microsoft. Ramamurthy was also the co-creator of Bubblegum, a photo-sharing application that was voted one of the top 15 mobile apps of 2011. Ramamurthy will be participating in Battery's panel at March 2013's SXSW, titled, Flash Flood! Good, Bad & Ugly Product Frenzies, which explores where social media, product demand and big data intersect.
"We're lucky and thrilled to have Aarthi join the team," said Brian O'Malley, Battery General Partner. "She is a unique entrepreneur, with the rare combination of technical acumen and an understanding of new commerce models. We look forward to helping her flesh out the most exciting opportunities and finding something exciting to pursue together."
e-commerce is no longer just about getting your favorite offline products in a cost-effective and convenient manner; several companies now leverage direct sourcing and advertising targeting to build brands online. While Battery has made several investments against this trend, including Dollar Shave Club, FreshDish, HotelTonight, J. Hilburn and Relay Foods, there are many consumer categories yet to evolve. The introduction of Big Data creates an opportunity to improve these new products by learning more about consumers and actively evolving offerings through deeper analysis.
Battery invests in a wide range of e-commerce and retail businesses, with the majority of these companies funded in the Seed and Early stages. To help uncover new areas for investment, the firm recently commissioned and released an e-commerce survey, Social Commerce: Buying Behavior and Influence Online, which reveals insights about consumer purchasing habits, social influence and the value of flawless customer service.
In addition to those noted above, Battery's recent e-commerce and retail investments include: Backplane, Glassdoor, Gogobot, H. Bloom, Joor, Serena & Lily, STELLAService, TradeKing, Viddy, Wayfair, Weddington Way, and Wikets, as well as several companies in stealth mode. Prior investments that form Battery's base of experience in these markets include: Angie's List (IPO), Bazaarvoice (IPO), ChoiceVendor (acquired by LinkedIn), Fashionstake (acquired by Fab.com), Groupon (IPO), Send the Trend (acquired by QVC) and Skullcandy (IPO).
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from seed and start-up financing, to growth and buyouts. Battery has supported many breakthrough companies around the world, including seven companies who have IPO'd in the past fourteen months. The firm's existing portfolio includes several emerging and high growth companies, such as: BrightEdge, Coupa, Gogobot, HotelTonight, J. Hilburn, Marketo, Neolane, Pursway, Sprinklr, Viddy and Wayfair.
Battery invests worldwide from offices in Boston, Silicon Valley and Israel. The firm has raised more than $4B since inception, and is currently investing a $750M fund. For more information, visit www.battery.com. Follow Battery on Twitter @BatteryVentures.
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