Sociable Labs, a startup that helps online retailers increase referral traffic and sales using social commerce, has raised $7 million in Series B financing led by Battery Ventures. The startup was originally seed funded by Facebook through the fbFund.
Sociable Labs focuses on delivering and measuring traditional ecommerce metrics, such as traffic, conversion rates and sales, for retailers via Facebook and others social networks. The startup offers a suite of hosted applications for retailers to socialize buyers opinions and help discover products based on buyer’s friends’ advice, right at the point of purchase.
The startup says its customers are reporting increased social sharing on-site by up to 20 times compared to standard social buttons (e.g. “likes” or “shares”). This increase in sharing has driven traffic back to their sites that converts up to 300 percent higher than Facebook fan page traffic.