Rep AI Technologies, the creator of an AI Concierge, announced it has raised $8.2 million in funding. This funding round was led by Osage Venture Partners (OVP), which was joined by Flashpoint Venture Capital and Oryzn Capital.
The funding will fuel further development of the company’s e-commerce sales tool. Built utilizing a proprietary combination of behavioral AI and large language models (LLMs), this tool enables merchants to provide personalized sales assistance at scale, turning browsers into buyers.
OVP picked Rep AI for its strong market traction and compelling value proposition. With 500+ merchants worldwide already using its solution, Rep AI’s product-led growth model and onboarding process are set to accelerate customer acquisition and further boost its impressive 15% month-over-month growth rate.
Rep AI’s technology utilizes behavioral AI to analyze each shopper’s browsing patterns, allowing it to anticipate when assistance is most needed. At this moment a shopper might benefit from support, the AI proactively offers help, giving the shopper the option to engage for the remainder of their shopping journey. By providing tailored product specifications, personalized recommendations, and relevant details, Rep AI enhances the overall shopping experience and drives higher sales. Merchants typically see a remarkable 30x ROI within the first month of implementation.
KEY QUOTES:
“Rep AI’s innovative use of cutting-edge AI to provide personalized sales assistance at scale has the potential to redefine customer experiences and boost conversion rates across the e-commerce industry. We are excited to lead this round and look forward to supporting Rep’s continued growth and innovation.”
– Sean Dowling, partner at OVP
“While technology has changed immensely in the past 15 years, e-commerce has largely stayed the same – and so has its historically poor conversion rates. Rep AI is the evolution the industry has so desperately needed. Unobtrusive and completely customizable to match each merchant’s product catalog and brand personality, it brings any sized business the benefits of a highly skilled sales expert that also happens to be infinitely scalable.”
– Yoav Oz, co-founder and CEO of Rep AI
“Rep AI brings a refreshing new approach to online sales, and it has already begun to realize its great potential. The company’s technology enables merchants to provide personalized sales assistance at scale, and we anticipate this solution will become a new standard in the market in the near future.”
– Lior Segal, partner at Oryzn Capital, which specializes in supporting Israeli-founded startups in Software, AI, and subscription-based companies
“Rep AI fills the need to consult with a professional while purchasing online. Especially for first-time shoppers at any given site, consumers want more information and assurance before making a buying decision. In that perspective, eCommerce today is broken, leading shoppers to experience distrust and anxiety. Rep AI solves this problem, assisting both shoppers and eCommerce businesses to have a better experience.”
– Noam Wolf, partner at Flashpoint Venture Capital
