Birdseye – a pioneering force in the retail and e-commerce artificial intelligence sector – recently announced a seed investment of US$3 million from Drive Capital. This funding round follows Drive Capital’s previous investment, leading a US$500,000 pre-seed round earlier this year in March. Drive Capital partner Masha Khusid will join Birdseye’s board of directors in connection with the funding round.
Birdseye’s products help retailers execute hyper-personalized campaigns. Its technology completes millions of marketing actions to match shoppers with the products they are most likely to be interested in purchasing at any time and price. And this technology is powered by an AI algorithm trained on vast retail transaction data.
With Birdseye’s AI, retailers can also match excess inventory with their customers who would most likely purchase it, rather than running generic discounts or mass email campaigns. And Birdseye enables large brands and retailers to understand granular consumer insights in real-time and then automates timely email and SMS offers.
Along with improved efficiencies with advertising spend, Birdseye is also solving the problem of customer retention, which is plaguing retailers today. And Birdseye’s technology helps retailers detect when they are about to lose a customer and enables them to proactively respond with personalized pricing and product offers to win that customer back.
It is not just brands and retailers who stand to benefit from Birdseye’s technology. And the company’s AI empowers a completely personalized shopping journey for consumers. Birdseye has a goal of completely reimagining the way consumers connect with brands.
Birdseye’s approach to product development – combined with a focus on resolving retailer challenges – has been the cornerstone of its success. And with this new funding round and the support of Drive Capital, Birdseye is positioned to redefine the future of retail.
KEY QUOTES:
“Our technology isn’t about generic promotions or marketing campaigns; it’s about enabling retailers to serve each customer’s unique preferences, delivering tailor-made offers that resonate positively. It’s a win-win, with shoppers valuing personalized deals and retailers benefiting from increased loyalty and engagement.”
— Matt Bogoroch, CEO of Birdseye
“By leveraging advancements in AI, we are improving the sell-through rates of stalling or out-of-season inventory. We’re also helping generate unprecedented customer engagement. Retailers can now automatically understand the unique preferences of millions of customers.”
— Shardul Frey, CTO of Birdseye
“With this latest round of funding and ongoing partnership with Drive Capital, we’re set to significantly bolster our hiring efforts, attracting the best and brightest to Birdseye. As we grow, our commitment is to emerge as a market leader in the retail industry.”
— Adam Bogoroch, Birdseye COO
“Matt and his team have a unique perspective on how AI can be used to serve the e-commerce market and, as a result, they’re solving merchants’ problems in incredibly innovative ways. We’re thrilled to continue our partnership with Birdseye.”
— Drive Capital Partner, Masha Khusid
