Sitecore to acquire AI technology company Reflektion
This acquisition of Reflektion enables Sitecore to engage, educate and empower shoppers to make purchase decisions faster. As a result, this will increase buyer confidence, long-term revenue and overall customer satisfaction and loyalty.
Reflektion’s AI-powered technology is able to understand and predict patterns, context and needs in order to convert shoppers into buyers.
As part of a continuation of Sitecore’s $1.2bn growth plan, the acquisition will help marketers solve the information overload that is characteristic of traditional search solutions. In the past, information overload has left customers unable to find and select the right product.
"Search is about more than just entering words into a box and hoping for the right results – it is the cornerstone of a digital experience. With Reflektion, a brand can add various types of search including personalized search, preview search, conversational search, and voice search," said Steve Tzikakis, CEO of Sitecore.
He continued: "This reduces customers' effort and anxiety to find exactly what they need – with more convenience and speed – and leads to increased customer satisfaction with more conversions and revenue. Acquiring Reflektion reinforces Sitecore's position as the leader in digital experience technologies that meets customers in the moment with more relevant, intuitive, and human experiences."
Elevating search with AI-powered technology
Searching is an integral part of a customers buying journey - 93% of all online experiences start with a search.
With its technology, Reflektion elevates search into a conversational, guided experience that provides more personal, accessible, and tailored answers for the customer.
"Since its inception eight years ago, Reflektion has become recognized for its unique approach to search-product discovery technology. Our technology uses AI to adjust each consumer's digital experience, in the moment, based on diverse data from multiple channels," said Amar Chokhawala, Founder and Chief Executive Officer at Reflektion.
"I am proud of the passionate team at Reflektion who has been successful in bringing our AI-first approach to many site-search deployments for large e-commerce and retailers' websites. With Sitecore, the Reflektion team and customers will be able to continue to leverage the enhancement of digital experiences, leading to continued growth and results for all," he continued.
Its platform can be leveraged across all aspects of the Sitecore digital experience platform. This can be anything from transforming product data into understandable consumer-friendly language to understanding shopper intent, behaviour, and product preferences.
The acquisition is expected to close this month.
