- Omnichannel personalization platform Rebuy has raised $4.4 million in funding. These are the details.
Rebuy, an omnichannel personalization platform, announced recently that it has raised $4.4 million in growth capital from Peterson Ventures and Sidekick Partners. Launched in 2017, the company was self-funded before accepting outside financing.
As consumers come to expect more from e-commerce stores, personalization has become an essential part of the online shopping experience. And to stay competitive, brands are seeking to transform their default website into an intelligent online store that offers personalized shopping experiences to every customer.
Rebuy, exclusively available to merchants on Shopify and Shopify Plus, empowers merchants to create personalized shopping experiences using AI-powered product recommendations, post-purchase follow-ups, and more. And once integrated, merchants typically see their average order value (AOV) increase by 5% up to 20% and beyond. Some shops are generating > 15% of their total revenue from Rebuy.
Rebuy has expanded from its core offering as a repeat order app to include a full suite of onsite personalization solutions that include marketing tools, personalized reorder pages, a post-purchase offer engine, and a custom shopping cart. And now the company powers onsite personalization for 2,700+ Shopify merchants. Rebuy powers many of the biggest and fastest-growing direct-to-consumer brands, such as Primal Kitchen, Fanjoy, Something Navy, and Magic Spoon.
The funding follows 12 months of rapid growth in which Rebuy has tripled its annual recurring revenue and more than doubled its customer base. And the company is cash-flow positive and processes more than 2 billion requests per month and has analyzed over $6 billion in merchant transactions.
Rebuy is planning to use the new capital to rapidly grow its engineering and sales teams and expand and accelerate its product roadmap. And the company also aims to grow its partner network with top marketing agencies and e-commerce consultants via a new partner program launched earlier this year.
KEY QUOTES:
“Ecommerce brands are looking for the best tools to scale their revenue and automate their processes. By offering merchants the ability to easily offer personalized shopping experiences and intelligent product recommendations, Rebuy has built a product that delights consumers and drives high value for ecommerce merchants. After merchants integrate with Rebuy, they will immediately see an impact to their average order value and overall revenue. Rebuy is quickly establishing itself as the leader in this emerging ecommerce enablement category.”
— Taylor Jones, Principal with Peterson Ventures
“We are thrilled to earn the backing of Peterson Ventures and Sidekick Partners. Their support will help us continue to empower merchants of all sizes to accelerate growth with onsite personalization. A big differentiator for us is our API-first approach. For example, our personalization engine works perfectly with headless sites, a fast-emerging category in ecommerce. And numerous third-party apps have built on our API. This means more functionality and growth for merchants.”
— John Erck, Co-Founder and CEO of Rebuy
“Rebuy is an emerging leader in ecommerce enablement due to the strength of the product and deep integrations with industry stakeholders. The results clients realize speak for themselves and Rebuy has grown rapidly without external investment by sharing in their customer’s success. With this new funding, the company will help even more merchants grow their ecommerce businesses.”
— Dylan Schuler, Principal with Sidekick Partners
