Nosto Names New CEO to Drive Rapid Growth in Ecomm

NEW YORK, May 08, 2018 (GLOBE NEWSWIRE) -- Nosto , the industry leader in online retail personalization, today announced the appointment of a new CEO, Jim Lofgren.  Lofgren will replace Matti Rönkkö, who has served as CEO of Nosto for the past five years and announced his intent to leave for personal reasons at the end of last year. Lofgren has most recently served as the North American CEO of Klarna, a leading payments solutions provider, and one of the most successful and fastest growing companies out of the Nordics.  He will begin his new role on June 4th and be based in New York.

“Throughout our search process, we were incredibly impressed with Jim.  We’re confident that under his guidance and leadership, we’ll take the company to the next level.  The Board sees huge growth potential in Nosto with the rapid expansion of ecommerce coupled with Nosto’s impressive performance across all markets,” said Moaffak Ahmed, Chairman of the Board for Nosto.  “With more than 2,500 of the world’s leading brands now using Nosto to deliver their customers personalized experiences and a compound annual growth rate in North America of 260% between 2015-2017, we’re confident that these great results will continue.  We are grateful to Matti for his leadership, and confident that a very sound foundation and promising future are in place for Jim to drive significant growth for Nosto.”

“I am honored by the opportunity to lead this tremendous organization, and continue to be impressed by its innovation and talented team. Nosto has created a stellar reputation in the area of AI and personalization -- nobody does it better -- and I fully expect to see continued growth and momentum for this company going forward,” said Jim Lofgren, Nosto’s new CEO.  “I’m eager to get started and to expand Nosto’s footprint by leveraging its patented advanced technology and machine learning that helps retailers predict the best products and offers for customers based on their unique needs, wants and behaviors.”

Recently, Nosto secured $17 million in funding from the European Investment Bank to further accelerate the company’s U.S. expansion and continued product development. Nosto has recently expanded its presence to the West Coast with the launch of a new office in Los Angeles, its second U.S. hub after New York.  The U.S. market represents an area where Nosto is seeing hyper-growth.

This past month, Nosto received the Thought Leader award at the annual Magento Imagine conference. The Magento Thought Leader award recognizes the leading solution and technology partners that have delivered the greatest impact to the commerce industry over the past year. Nosto also won an Excellence Award with its agency partner Guidance and customer, Kate Somerville Skincare.

About Nosto Nosto enables online retailers to deliver their customers personalized shopping experiences at every touch point, across every device. A powerful personalization platform designed for ease of use, Nosto empowers retailers to build, launch and optimize 1:1 multi-channel marketing campaigns without the need for dedicated IT resources. Leading retail brands in over 100 countries use Nosto to grow their business and delight their customers. Nosto supports its retailers from its offices in Helsinki, London, Berlin, Stockholm, New York, Los Angeles and Paris. More information can be found at http://www.nosto.com/ .

Media Contacts: Heidi Davidson Galvanize Worldwide for Nosto (914) 441-6862 Heidi@GalvanizeWorldwide.com