Total amount raised
$34 Millions
Latest funding date
11/01/2021
Location
ViSenze has successfully raised funding through multiple rounds, with notable investors including Global Brain Corporation and Rakuten Capital. The company specializes in AI-powered product discovery solutions for retailers, enhancing customer experiences through advanced search and recommendation technologies.
Keep reading to explore the intricacies of ViSenze's fundraising journey and the investors backing this innovative platform.
What Is ViSenze?
ViSenze, founded on August 1, 2012, is headquartered in Singapore. The company was established by Chua Tat-Seng, Li Guangda, Oliver Tan, and Roger Yuen. Specializing in AI-powered product discovery and recommendation solutions, ViSenze serves the e-commerce industry with a focus on enhancing customer experiences through advanced search technologies.
With a team of 51-100 employees, ViSenze is recognized for its innovative platform that supports retailers like ASOS, H&M, and Rakuten. The company's services include enhanced search, product tagging, smart recommendations, and merchandising analytics, all designed to increase revenue and improve shopping experiences for retail merchants.
How Much Funding Has ViSenze Raised?
- Series A
- Amount Raised: $3.5M
- Date: February 2014
- Lead Investors: Rakuten Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance ViSenze's AI-powered product discovery platform.
- Series B
- Amount Raised: $10.5M
- Date: September 2016
- Lead Investors: Enspire Capital, Rakuten, WI Harper Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their technology and client base, enhancing their visual commerce solutions.
- Non-Equity Assistance
- Amount Raised: Not specified
- Date: February 2016
- Lead Investors: Mastercard Start Path
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources from Mastercard's Start Path program.
- Series B
- Amount Raised: Not specified
- Date: April 2016
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their AI-powered solutions and expand market reach.
- Series C
- Amount Raised: $20M
- Date: February 2019
- Lead Investors: Bright Pixel (formerly Sonae IM), Gobi Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform solutions through partnerships with smartphone manufacturers and expand their visual commerce technology.
- Venture Round
- Amount Raised: Not specified
- Date: November 2021
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and enhance its AI-powered product discovery platform.
Total Amount Raised: $34M
Current Valuation: Not publicly disclosed
Key Investors
- Bright Pixel (formerly Sonae IM)
- Details: Bright Pixel is a technology investment firm focusing on retail and telecommunications. It is the technology investment arm of Sonae Group.
- Investment Focus Areas: Retail technology, telecommunications, cybersecurity.
- Notable Investments: Outsystems, InovRetail, StyleSage.
- Gobi Partners
- Details: Gobi Partners is a venture capital firm focusing on early-stage investments in IT and digital media sectors. It operates primarily in China, Hong Kong, and Southeast Asia.
- Investment Focus Areas: IT, digital media, early-stage startups.
- Notable Investments: Airwallex, Carsome, Prenetics.
- Rakuten
- Details: Rakuten is a global leader in internet services, including e-commerce, fintech, and digital content. It is also an existing investor in ViSenze.
- Investment Focus Areas: E-commerce, fintech, digital content.
- Notable Investments: Lyft, Pinterest, Cabify.
- WI Harper Group
- Details: WI Harper Group is a venture capital firm investing in early and expansion-stage companies in the U.S. and Greater China. It focuses on technology, media, and telecommunications.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: GoPro, Meitu, Mapbar.
- Mastercard Start Path
- Details: Mastercard Start Path is an accelerator program by Mastercard for later-stage startups. It provides strategic support and resources to help startups scale.
- Investment Focus Areas: Fintech, commerce, later-stage startups.
- Notable Investments: Investments in later-stage fintech and commerce startups.
What's Next for ViSenze?
ViSenze stands at the cusp of significant growth opportunities, driven by its partnerships with major smartphone manufacturers like Samsung, LG, and Huawei. These collaborations aim to integrate visual shopping capabilities directly into native camera lenses, potentially revolutionizing the way consumers interact with products. With a strong foundation of 400 million products linked from 800 major merchants, the company is well-positioned to expand its global affiliate network and enhance its platform solutions.
Future fundraising opportunities appear promising, given ViSenze's impressive annual revenue growth rate of over 200%. The company may attract additional venture capital or strategic investments to further develop its AI-powered visual commerce technology. However, challenges such as intense competition in the visual search space and the technical complexities of integrating with various smartphone brands could pose hurdles. Navigating these challenges will be crucial for ViSenze as it continues to scale and innovate in the rapidly evolving e-commerce landscape.
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