Finland-HQed personalised e-commerce experience company Nosto has acquired Findologic, an Austrian startup whose AI-driven platform helps e-retailers improve product discovery through their internal search engine.
This marks the third acquisition for Nosto in the space of 18 months, coming in the wake of its acquisition of the user-generated marketing content portal Stackla in June 2021 and of ecommerce search company SearchNode in January this year.
Nosto will also take on 50 Findologic employees to augment its existing talent pool in sales, marketing, partnerships and product engineering.
Findologic's e-commerce service consists of on-site APIs used by e-retailers to improve product search, personal recommendations, customer engagement tools and web navigation. It's mainly active in Germany, Austria and Switzerland.
The startup has aimed to make an impact in helping brands create "intuitive and dynamic shopping" experiences that evolve to match the expectations of individual shoppers. It's unclear how the acquisition will effect SearchNode, though Findologic will also be made available through Nosto's central commerce experience ecosystem, meaning customers will potentially have two options for improving product search.
Findologic CEO and founder Matthias Heimbeck, said joining Nosto was a "perfect fit" adding: "Helping shoppers find the right product at the right time is critical to driving conversions for online brands, and we’re excited to continue on that journey with Nosto."
Findologic had been pretty guarded on its equity funds track record, though news emerged in October of last year of an investment by Tauros Capital Management.