CIT backs Blue Triangle Technologies
CIT GAP Funds has made an undisclosed investment in Blue Triangle Technologies. Based in Richmond, Virginia, BTT is a provider of a data analytics platform that helps online retailers optimize web pages.
The Center for Innovative Technology (CIT) announced today that its CIT GAP Funds closed an investment in Blue Triangle Technologies, Inc. (BTT), a Richmond-based company that provides a data analytics platform that helps online retailers optimize web pages to achieve maximum performance, close transactions and increase revenue.
BTT offers a SaaS-based predictive analytics platform that combines application monitoring, business intelligence and web analytics. It allows online retailers to identify existing revenue “leakage” on their web sites and to understand how to optimize web pages to maximize revenue. BTT does this by unobtrusively gathering data from visitors, analyzing page speeds and cart abandonment rates, which help produce recommendations for each web page. This enables customers to prioritize resources to remediate issues on their sites, ultimately optimizing the ROI of web site re-engineering, network infrastructure spend, and marketing efforts.
Blue Triangle Technologies, Inc. CEO Donald E. Foss said, “Most online retailers have between 10-15% in revenue leakage that they are failing to capture; leakage that equates to significant unrealized revenue that merchants can otherwise be earning. Our platform allows these retailers to identify the location of the leakage to ultimately increase revenues. The investment from CIT GAP Funds allows us to continue our proof of concept trials and provide us with the ability to expand our marketing and engineering efforts.”