ViSenze, a startup that provides visual search tools for online retailers like Rakuten and ASOS, announced today that it has raised a $20 million Series C. The round was co-led by Gobi Ventures and Sonae IM, with participation from other backers including returning investors Rakuten and WI Harper.
Founded in 2012, ViSenze has now raised a total of $34.5 million (its last round was a Series B announced in September 2016). The Singapore-based company, whose clients also include Urban Outfitters, Zalora, and Uniqlo, bills its software portfolio as a “personal shopping concierge” that allows shoppers to find or discover new products based on visual search, automatic photo tagging, and recommendations based on their browsing history. ViSenze’s verticals include fashion, jewelry, furniture, and intellectual property.
ViSenze’s latest funding will be used to develop its software through partnerships with smartphone makers including Samsung, LG, and Huawei. The company has offices in Asia, Europe, and the United States, and claims an annual revenue growth rate of more than 200 percent. Other startups in the same space include Syte.ai, Slyce, Clarifai, and Imagga.
In a statement, Rakuten Ventures partner Adit Swarup said “When we first invested in ViSenze in 2014, …read more
Source: Tech Crunch