Reflektion Raises $12 Million to Continue Retail AI Expansion
Reflektion today announced it has raised $12 million in financing led by Hasso Plattner, the famous German businessman who is also a co-founder of the software company, SAP SE. Existing investors including Battery Ventures and Clear Ventures also participated.
Reflektion is an AI-driven customer engagement platform founded in 2012 by ex-Google pioneers in deep learning. Its platform understands and influences the intent of each customer in real-time and instantly delivers the most individually relevant content across the touchpoints that matter most—including Web, site search, merchandising and email. Leading retail brands such as TOMS, Ann Taylor, Sur La Table, Godiva and Destination XL rely on Reflektion’s AI solutions to combine individual shopper insights, product intelligence and deep learning to create impactful ecommerce experiences that translate to double-digit increases in key metrics such as conversion rate and average order value.
“Within short order, Reflektion has demonstrated how its AI-based technology and unique approach to knowing customers’ preferences and intent can dramatically impact business,” said Yair Reem of Hasso Plattner Ventures. “Reflektion continues to stand out in the space and we’re looking forward to what the future has to hold in terms of international expansion and further growth.”
“AI is truly redefining the way people shop and today there are more ways than ever to do so—from voice-enabled devices to photo search, for instance,” said Amar Chokhawala, Reflektion’s founder and CEO. “In the coming years, experiences driven by Reflektion’s AI-powered solution will become even more in demand as brands look for the best option to deliver on a customer-centric approach.”
Reflektion will use the new investment to continue its rapid expansion into international markets—particularly in the EMEA region, which accounts for 10 percent of its total revenue. The funding will also be used to continue improving upon the individualized solutions—including site search, photo search and its behavioral/triggered emails—that leading brands have come to rely on.