Two little letters have caught the imagination of the venture capital crowd. Investors are pouring money into operations that fly the AI banner, from tech providers to e-commerce platforms. Here, a look at 10 standout firms that have been sparking VC funding fever, according to PitchBook.
1. Trax Image Recognition
Total raised: $285.5 million
Trax is a provider of an image recognition platform designed to deliver accurate and reliable performance analysis for consumer goods companies. The firm’s platform turns retail shelf images into real-time actionable insights, enabling manufacturers and retailers globally to control performance gaps, identify category opportunities and immediately increase revenue at all points of sale.
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2. Signifyd
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Total raised: $206.2 million
Signifyd is a provider of a stand-alone risk and guaranteed fraud-prevention platform designed to make commerce safer for online retailers. The company leverages big data, machine learning and expert manual reviews to provide a 100 percent financial guarantee against fraud on approved orders that turn out to be fraudulent, enabling retailers to provide friction-free buying experiences for their customers.
3. Stitch Fix
Total raised: $167.6 million
A provider of online styling services that offers one-to-one personalization for shoppers, Stitch Fix — which had a much-hyped initial public offering in December — uses a combination of data science and human judgment to send clients personalized selections of apparel, shoes and accessories that fit their style. Subscribers can schedule automatic shipments or order a “fix” on demand, after filling out a style profile on the website or mobile app.
4. Poshmark
Total raised: $159.7 million
The online social commerce marketplace allows users to buy, sell and share their personal styles. The platform allows people to easily sell clothes and accessories by posting photos and details. Listing an item for sale takes less than 60 seconds. Users can follow people whose styles they admire or connect with particular stores, giving them access to new and “gently used” items at up to 70 percent off retail.
5. Riskified
Total raised: $63.65 million
Riskified is the developer of an e-commerce fraud-prevention technology designed to turn fraud management into a growth engine for online retailers. The company’s e-commerce fraud-prevention technology offers machine-learning algorithms and proprietary behavioral analytics that protect the bottom line and customer experience. Riskified uses an adaptive approach to stay ahead of the constantly changing fraud landscape, enabling merchants to protect themselves from fraud and offer better customer experience, lowering overhead and maximizing their revenue.
6. Abeja
Total raised: $45.61 million
The retail analytics platform uses deep learning to collect, analyze and visualize data from brick-and-mortar stores and shed light on customer buying habits and interests.
7. Rubikloud Technologies
Total raised: $45 million
The company is a developer of retail intelligence platforms that uses machine learning and big data systems. The technology gathers online and off-line consumer behaviors to give retailers insight into preferences, ranging from product affinity and price sensitivity to response prediction and demand forecasts.
8. Malong Technologies
Total raised: $44.1 million
Malong is the provider of machine vision technologies intended for visual product recognition. Its ProductAI platform uses artificial intelligence for product recognition, general image recognition and image-based content-searching services. The goal is to give its machines a humanlike visual perception of products, including non-rigid objects like fabric.
9. Twiggle
Total raised: $34.7 million
The developer of an online search technology designed to make online shopping easier, Twiggle’s online search technology is built on both humanlike understanding of linguistic structure and retail awareness. This enables e-commerce search engines to understand customers the way in-store employees do and to help connect people to the products they are looking to buy.
10. Feedvisor
Total raised: $33.45 million
Feedvisor is a provider of an algorithm-based commerce platform that offers repricing services. The company uses machine-learning algorithms to provide cloud-based algorithmic repricing and revenue intelligence services to help retailers maximize profitability and drive business growth.