- Founder sold his previous startup to Myntra, which was later acquired by Flipkart, that recently sold its majority stake to Walmart for $16B.
- Paying customers include Walmart, Rakuten, USPS, Chanel, Midea, Netgear, Cisco, and more.
- Investors include DeNA, Plug & Play Ventures, and the SI Selections Fund.
- Net Sales grew 48% from 2017 to 2018 (unaudited).
- Filed 9 patent applications; team includes Stanford/MIT Ph.Ds.
- Total Amount Raised: US $655,009
- Total Round Size: US $4,000,000
- Series A :
- Minimum Investment: US $10,000 per investor
- : Preferred Equity
- US $15,000,000 :
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.
Commerce.AI is a B2B SaaS/API platform that can be used by brands, retailers, and investment analysts. We charge based on amount of data consumed by our customers.
The key innovation is our ability to understand non-numerical data associated with individual products or service. Our platform scans the web to gather unstructured data (product reviews, images posted by users, consumer videos) in order to augment product related decisions for companies. Using our Deep Product Learning ® technology, the platform enables our customers to achieve the following in an accelerated fashion:
- Market research
- Product design
- Product management
- Marketing and merchandising
- Competitive analysis
Commerce.AI can help answer questions for our business customers, just in few seconds, all within single platform.
- Which new product should we build next?
- How big is the market for a new product?
- Which are the trending new competitive products?
- What is the #1 reason why customers buy or don't buy an existing product?
- What is the #1 complaint about a product?
- How likely is the new complaint to convert to a product recall?
- Which products the client should carry or drop based on consumer sentiment?
- How can we enhance product content? (such as product catalog, marketing campaigns)
- Which new products or brands are trending?
So what is unique about our AI technology?
What differentiates us uniquely is our ability to gather a significant amount of unstructured product data, ability to remove noise from signal, and ability to offer it in the form of structured intelligence to our customers to drive specific actions. We have filed multiple patents toward this technology. We have gathered and processed over 10 million data points across 62 categories, 3,924 brands in 12 languages so far; and the number is increasing rapidly as we gain infrastructure efficiencies.
Before Commerce.Ai, Andy founded Fitiquette, based in San Francisco. It was acquired by Myntra, which then got acquired by Flipkart group. Last year, Flipkart sold its majority stake to Walmart for $16B. Fitiquette used conventional machine learning technology to solve a specific e-commerce problem. Recognizing the enormous potential for advanced machine learning and artificial intelligence, Andy pitched his core idea behind Commerce.AI to Walmart executives in 2016. After receiving Commerce.AI's first purchase order, Andy invited Nate and subsequently the rest of the members to join the founding team. The team has worked together before and know each other's strengths and weaknesses. More importantly, the team is passionate about advancing the AI to help humans make day to day decisions!
- Premium Patagonia Vest with Commerce.AI logo.
Level 1 Investor ($10,000)
- All of the above +
- Exclusive Invitation to our launch event in San Francisco Bay Area. (tentative Sept/Oct 2019)
Level 2 Investor ($25,000+)
- All of the above +
- Commerce.AI enterprise subscription for 1-year.
- A special tour of Silicon Valley, including Commerce.AI headquarters.
- Dinner with the founding team.
- All of the above +
- Paid airfare (economy) for our launch event in San Francisco Bay Area.
- Quarterly call with the CEO.
Level 3 Investor ($100,000)
Level 4 Investor ($300,000)
It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Commerce.AI. Once Commerce.AI accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Commerce.AI in exchange for your securities. At that point, you will be a proud owner in Commerce.AI.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because Commerce.AI is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page by clicking your profile icon in the top right corner.
Currently there is no market or liquidity for these securities. Right now Commerce.AI does not plan to list these securities on a national exchange or another secondary market. At some point Commerce.AI may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Commerce.AI either lists their securities on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is Commerce.AI's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in Commerce.AI’s profile.