Commerce.AI is an AI-powered system that sees, reads, and listens to the world’s product information with deep product-learning technology. This technology helps retailers and brands understand what customers are saying about products at the granular feature level. When the AI starts to understand which product features work well, it can empower humans to do what we are best at: build great products and sell with confidence!
After demonstrating the power of our system, we received our first purchase order from Walmart in 2016. We raised our seed round at the end of 2017. Our SeedInvest campaign was very well-received, and we raised 7x of our escrow target. Thanks to the funds, we have:
- expanded our core team;
- invested in product improvements; and
- accelerated sales activity: we are now working with additional large customers such as Cisco, Chanel, Netgear, Midea, USPS, SC Johnson, and more. We have over 50+ brands in the pipeline.
We believe the opportunity is significant. Brands and retailers do not currently have a sophisticated way to listen to real-time consumer opinions at scale. There are 5 billion unique branded products in the world, with approximately 40,000 new products created every year, and over $22 trillion spent on global retail. There are over 1.6 million brands around the world. Overall this represents a substantial market. Investing in us will allow us to scale our sales activity and help continue the product improvements.