Syte, an AI-powered product recommendation engine built from the ground up for apparel e-commerce, announced that New York-based Pereg Ventures has acquired a controlling stake in the company. This strategic deal, led by Pereg and including Magma VC, MizMaa, and Stardom Ventures, marks the start of a transformative new chapter for Syte, now under the leadership of Ziv Ben-Barouch, Co-Founder of Pereg Ventures and Syte’s newly appointed CEO.
Pereg Ventures has a proven track record of successfully identifying and nurturing innovative companies. Pereg Ventures was an early investor in CB4, an AI retail analytics startup that was later acquired by Gap in October 2021. This strategic foresight validates Pereg’s ability to spot and develop companies with significant growth potential.
Through Syte’s advanced proprietary technology, the company has become a leader in offering highly relevant product recommendations that boost conversions, solve stocks, reduce bounce rates, supercharge email marketing, and increase revenue per user.
Syte’s recommendation engine integrates seamlessly across eCommerce ecosystems, enabling brands, retailers, and marketplaces to deliver relevant suggestions everywhere customers engage — from product pages to “shop the look” features and personalized email campaigns. Through Pereg Ventures’ strategic vision and Ziv’s leadership, Syte is positioned to expand its reach, optimize key eCommerce metrics, and redefine how apparel brands connect with customers.
KEY QUOTES:
“As both a Co-Founder of Pereg Ventures and now the CEO of Syte, I’m excited to guide the company into its next phase of growth. At Pereg, we’ve always believed in finding companies that provide exceptional value to their customers. Syte’s proprietary AI technology gives it a true competitive edge in a world where commoditized AI solutions fail to meet the unique needs of the apparel sector. With this partnership, we’re combining Syte’s innovative solutions with Pereg’s deep retail expertise and guidance to deliver incredible value for our clients.”
“This is an exciting moment for Syte. We’re doubling down on our commitment to helping apparel brands create frictionless, impactful shopping journeys that drive conversions, reduce out of stocks, and improve the overall shopping experience. With Pereg’s expertise and Syte’s technology, we’re creating a winning formula for long-term success in eCommerce.”
– Ziv Ben-Barouch
“Syte is unlike anything else in the market. Syte’s algorithms are trained to see products like people do, and they can see why you buy. Their ability to understand the nuances of apparel—like size, fit, color, occasion, material, and style—sets them apart from one-size-fits-all AI solutions. We’re bullish about Syte’s potential to lead the future of e-commerce recommendations and deliver significant value to fashion brands worldwide.”
– Itzhak Fisher, Co-Founder and Managing Partner of Pereg Ventures and a newly appointed Syte board member
