Formation

Formation operates as a specialized enterprise software provider, focusing on AI-driven marketing personalization. The firm was originally spun off from Boston Consulting Group's (BCG) corporate innovation arm, BCG Digital Ventures, in 2015. In August 2022, in a strategic move to enhance its technology and AI software capabilities, BCG fully acquired the San Francisco-based company.

The company was co-founded by Christian Selchau-Hansen, who also served as its CEO. His background includes over two decades in the technology sector, with significant product and leadership roles at data-centric companies like Square and Zynga. Prior to founding Formation, Selchau-Hansen was a Partner and Managing Director at BCG Digital Ventures, where he advised large corporations and incubated new startups, an experience that directly informed the creation of Formation. He holds an MBA from The Wharton School and bachelor's degrees in mechanical engineering and economics from Rice University.

Formation's core business revolves around its proprietary software-as-a-service (SaaS) platform, which enables large-scale, one-to-one personalization for enterprise clients. The platform leverages artificial intelligence and machine learning to analyze first-party customer data, allowing brands to automate the creation and delivery of millions of individualized offers. It continuously learns from customer interactions across both digital and physical channels to refine and optimize subsequent offers, thereby increasing their effectiveness. This dynamic offer optimization is designed for marketing teams in sectors such as retail, grocery, travel, and quick-service restaurants (QSR). By enabling hyper-personalized customer experiences, the company helps its clients drive incremental revenue, which has reportedly surpassed $2 billion, and enhance customer lifetime value. Following the acquisition, Formation became part of BCG X, the consultancy's tech-build and design business unit, to further scale its vision of personalized commerce.

Keywords: marketing personalization, AI marketing, customer engagement, dynamic offer optimization, machine learning personalization, customer lifetime value, retail technology, e-commerce marketing, Christian Selchau-Hansen, BCG X, loyalty marketing, 1:1 marketing, automated offers, first-party data, customer experience platform, marketing automation software, SaaS, enterprise software, QSR marketing, travel industry marketing