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.
Our Mission Shoppers today are overwhelmed by choice. More and more, they are relying on the advice and recommendations of their friends to sort through the clutter and help them make informed purchase decisions. Most of the time, however, their friends aren’t available when they need them in the shopping process … until now. Sociable Labs’ mission is to empower individual consumers to make informed choices during their shopping process based on the guidance of the people whose advice and opinions...