- Teikametrics — a leading SaaS provider of AI-powered optimization for brands and sellers on Amazon and Walmart — announced it has raised $15 million in strategic funding round from new and existing investors
Teikametrics — a leading SaaS provider of AI-powered optimization for brands and sellers on Amazon and Walmart — announced it has raised $15 million in strategic funding round from new and existing investors. And the announcement follows Teikametrics’ selection as one of Walmart’s first exclusive advertising optimization partners and the addition of Srinivas Guddanti, a 14-year senior Amazon veteran as its Chief Product Officer.
Jump Capital led the funding round and they were joined by follow-on investments from Granite Point Capital, MIT Professor of Econometrics Jerry Hausman, and the former Head of Growth at Facebook and Uber Ed Baker.
Teikametrics is known for optimizing over $6 billion in GMV across thousands of sellers around the world with brands including Clarks, Razer, Power Practical, Zipline Ski, and Mark Cuban’s Brands. And most recently, PC gaming giant Razer generated more than a 10X increase in ad-derived sales at an extremely low Advertising Cost of Sales (ACoS) through a series of Walmart Sponsored Product campaigns during Black Friday and Cyber Monday period.
This funding round will enable the company to execute at a global level during a pivotal moment for the e-commerce sector as a whole. Amazon recently reported its advertising business hit $10 billion in revenue in 2019, Walmart debuted a self-serve ad platform, and retailers like Wayfair have been continuing to aggressively build out advertising offerings.
And with this round of funding round, Teikametrics plans to further advance its artificial intelligence technology and product development activities, extend its multichannel optimization to new marketplace channels, and expand on its SaaS platform functionality further beyond advertising optimization solutions. Plus Teikametrics will hire aggressively across product development, sales and marketing, and expert analyst support roles.
Teikametrics uses its proprietary artificial intelligence to automate and simplify decision making for over 3,000 emerging brands generating billions of dollars in sales on Amazon and Walmart. And its SaaS platform Teikametrics Flywheel saves e-commerce operators time and money and accelerates growth through continuous optimization of advertising spend, product sales, and improved brand visibility.
Key Quotes:
“We’re thrilled to lead this new round of capital in Teikametrics. The Company has grown rapidly, and the success of its proprietary AI technology for Amazon is a strong proof point for a broader e-commerce platform opportunity. The partnership with Walmart is a landmark event and we are excited to fund the expansion of the Teikametrics platform across multiple ecommerce channels.”
– Michael McMahon, founding partner of Jump Capital
“The closed-loop marketplace model that Amazon uses to dominate the e-commerce landscape is the blueprint for other consumer demand channels and the future of retail. The fact that Walmart and other retailers are moving towards this system provides a unique growth opportunity for emerging brands and an unprecedented opportunity to use our AI technology to optimize performance. Our goal is to take this increasingly complex multi-channel optimization problem and solve it for entrepreneurs with a beautifully simple piece of SaaS software.”
– Alasdair McLean-Foreman, CEO of Teikametrics
