AI for e-Commerce
Updated: October 21, 2020
2020. Syte, an e-commerce AI visual search platform raises $30M
Visual search and product discovery platform Syte, already used by brands like Farfetch and Fashion Nova, has raised a $30 million Series C. The company’s platform includes three main products: Visual Discovery to let brands add camera search, recommendation engines and discovery buttons; “Searchendising,” which automatically generates tags based on visual AI to improve search and recommendation results; and a Discovery Marketplace used by publishers, smart devices manufacturers and social platforms to increase the reach of product advertisements.
2020. Zycada raises $19M for a bot that speeds up e-commerce and other interactive services
Zycada is emerging from stealth to help address shopping cart abandonment, with bot-based technology that speeds up how quickly the interactive elements load up on e-commerce sites. In addition to coming out of stealth today, it’s announcing $19 million in funding. The company has already picked up a number of very large customers, including one of the world’s very biggest retailers (which wishes to keep its name out of this story). These businesses are using the technology to speed up their sites, and specifically the interactive elements on their pages such as “buy” buttons. Those large customers are likely one reason it’s raised so much money while still in stealth.
2019. AI-based e-commerce helpdesk Gorgias raises $14M
Gorgias, a startup offering artificial intelligence tools for customer service and support, is announcing that it has raised $14 million in Series A funding. Gorgias is taking advantage of a broader shift as brands are looking to sell directly to consumers, rather than going through intermediaries like Amazon. The product integrates with Shopify, using AI and customer data to automate responses to basic questions like, “What’s my tracking number?” By doing this, the business can free customer service representatives from spending most of their time responding to these routine requests, and the customers get faster answers.