SAN FRANCISCO--(BUSINESS WIRE)--CrowdFlower (http://crowdflower.com), the leading provider of on-demand crowdsourced solutions for the Fortune 500, today announced the release of its Product Categorization solution for enterprises. This solution enables companies to optimize their product taxonomies so that they can make their products easier for customers to find.
"Online consumers are savvy," said Lukas Biewald, CEO of CrowdFlower. "If an e-commerce site's poor categorization makes it hard to find the right products, shoppers will move on to the next site. They don't have to wait around for sites to get it right. CrowdFlower's Product Categorization solution helps e-commerce companies ensure that consumers find the product they're looking for the first time around."
CrowdFlower's Product Categorization solution achieves the quality and expertise of a team of internal human evaluators with the capacity to scale quickly and effectively. The solution provides more than 1.5 million trusted human judgments on products each month at 95% accuracy. Additionally, the API and customized dashboard enable an automated solution for data transfer to clients.
This product release comes just as CrowdFlower has raised $7 million in a Series B financing. Harmony Partners led the round, with participation from existing investors, Trinity Ventures and Bessemer Venture Partners. CrowdFlower has now raised more than $13 million in venture financing.
Harmony specializes in Series B rounds for companies that have proven technology and a business model that is ready to scale.
"We've seen how CrowdFlower's array of quality-controlled crowdsourcing solutions has proven an asset for Fortune 500 businesses and other companies with large-scale data needs," said Gregory F. Eaton, General Partner at Harmony Partners. "At a time when startups are seeking to build the next killer app, CrowdFlower is changing the way the world works."
"We’re proud to have backed a category leader in CrowdFlower," said Ethan Kurzweil, Vice President at Bessemer Venture Partners. "We’ve watched as the team has successfully evangelized the power of crowdsourcing to solve a wide variety of enterprise pain points, in a high-quality, efficient and scalable way. It’s clear to us that CrowdFlower is just getting started."
Ajay Chopra, Partner at Trinity Ventures, adds, "The CrowdFlower team has taken the powerful concept of on-demand, crowdsourced labor and turned it into a reality with disruptive business implications. Similar to the way cloud computing is transforming IT infrastructure, CrowdFlower's technology platform has the power to transform the way work gets done."
Founded in 2007, CrowdFlower (http://crowdflower.com) provides Labor-on-Demand to help companies route high-volume, repetitive tasks to a massively distributed global workforce. CrowdFlower uses statistically backed, quality-controlled crowdsourcing technology to produce a scalable and reliable workforce that can dispatch a diverse array of tasks and provide near-real time answers. In addition to custom service solutions and web tools, CrowdFlower offers an API that businesses can connect to and automate their processes, cutting out time-consuming day-to-day management.
About Harmony Ventures:
Harmony Ventures (http://harmonyvp.com/) is a next-generation expansion stage investment firm founded by experienced venture capitalists Mark J. Lotke and Gregory F. Eaton. Through our accommodating approach, we help entrepreneurs own more of their companies, focus on the core business, maintain capital efficiency and enhance exit flexibility.
About Bessemer Venture Partners:
Bessemer Venture Partners (http://www.bvp.com) is a global investment group with offices in Silicon Valley, Boston, New York, Mumbai and Tel Aviv. One of the oldest venture-capital practices in the United States, BVP has partnered as an active, hands-on investor in Ciena, LinkedIn, Postini, Skype, Staples, VeriSign, and Yelp. More than 100 Bessemer-funded companies have gone public on exchanges in Canada, India, London and the United States. Bessemer is also a leader in the field of cloud computing and recently published the latest version of its popular “Bessemer’s Top 10 Laws of Cloud Computing and SaaS” whitepaper. Learn more at www.bvp.com.
About Trinity Ventures
Founded in 1986, Trinity Ventures (http://www.trinityventures.com/), a boutique firm, partners with passionate entrepreneurs to transform revolutionary ideas into reality. With over $1 billion under management, Trinity Ventures was founded on the principle of personal engagement and mutual respect with the entrepreneurs we fund. Trinity Ventures focuses on early stage technology ventures with a particular emphasis on digital media, Internet services, mobility, security and software markets.