TechCrunch recently covered our Series A announcement, reporting on the US$7.5 million funding round led by EVP and Carthona Capital.
TechCrunch focuses on our ambition to give any retailer the ability to personalize shopping experiences online, with a range of product discovery tools powered by artificial intelligence and machine learning.
Covering the story of our launch in 2019, the challenges of the pandemic and the growth of the industry in the past 18 months, TechCrunch highlights our robust, real-time data “...on product search, sales, pricing and availability across the internet, from [our] browser plugin Similarinc.com, which gathers [100% anonymous] data from its online shopper community without tracking or cookies.”
Similar provides insight into prices and browsing behaviour across the web. It helps retailers better understand how customers are interacting with competitors, allowing them to make more informed decisions about what items to stock.
Our CEO and Founder James Taylor notes that:
“Data IP is the current frontier…It is data that is going to improve predictions to personalize inventory and reduce waste while also helping with supply chain management. The goal is to create website data visibility that would benefit all of the other merchants other than Amazon."
Adding that we’re working on over 100 websites and that Europe currently makes up 50% of our revenue, TechCrunch writes about our growing focus on North America with the opening of our new office in New York in 2022.
James shares that we saw 460% year over year in revenue growth and expect to hit $100 million in gross merchandise value through our products this year, up 19 times in the last two years. One of those products (which we’re really excited about) is our retail media platform, which will offer retailers an additional revenue stream from cost per clicks.
As part of the investment, Daniel Szekely, partner at Equity Venture Partners, will join our board, he says:
“Personalization of the internet is a critical frontier for e-commerce retailers, and in a world of growing online shopping options and diminishing consumer attention spans, delivering an experience that meets individual consumers’ needs is absolutely critical…James and his outstanding team have tackled this issue in a novel way, and the important need for their solution has been made obvious as the business gets pulled into multiple geographies. We’re thrilled to back them in their Series A and know this is just the beginning of the journey.”
To read the full story, check out the feature here.
