- Product visualization software platform Threekit announced it has raised $20 million in funding
Threekit — a product visualization software platform used by some of the world’s top brands and retailers for creating, managing, and scaling interactive eCommerce experiences — announced it has raised $20 million in Series A funding led by Shasta Ventures. Salesforce Ventures, former San Francisco 49ers Hall of Famer Steve Young, Marketo co-founder Phil Fernandez, and G2 co-founder and CEO Godard Abel also joined this round of funding.
Threekit is currently the only software platform that enables companies to create 3D, photorealistic images, and augmented reality without the need for photography. And when buyers can see products represented realistically, they are more engaged, confident, and less likely to return the product.
The Threekit Virtual Photographer is a program that creates product images for e-commerce that look real but are completely computer-rendered. Earlier this year, Threekit raised $10 million led Abel.
Threekit was launched in 2005 by CTO Ben Houston — who worked as a visual effects software developer on top-tier Hollywood films like the Harry Potter, Star Wars and Avengers franchises.
Currently, the average online shopper expects to see at least 8 images per product per purchase, up from only 3 in 2016. And now online shoppers increasingly expect to virtually interact with products in real-time through immersive 3D and augmented reality experiences. But traditional commercial photography and one-off 3D design make this almost impossible.
“Buying online takes away the ability to touch and feel a product, so interactive product visuals are critical, especially for highly configurable and sophisticated products,” said Joachim Klein, president of Threekit. “Commercial photography falls far short of online buyer expectations, and current eCommerce experiences don’t capture how consumers engage with product listing before buying. Threekit overcomes these challenges by enabling incredible virtual product experiences.”
With the Threekit platform, businesses can upload product information and design files to instantly and inexpensively create unlimited numbers of interactive, augmented reality, and photorealistic 3D visuals for any product’s material, color, and configuration options.
Crate & Barrel uses Threekit to create over 3 million photorealistic images of their sofas in order to create a more immersive and satisfying shopping experience.
“We look for passionate, entrepreneurial teams who understand what it takes to bring their vision to life, and that describes Threekit perfectly,” added Jacob Mullins, partner of Shasta Ventures. “Beyond that, Threekit’s product is poised to fundamentally change the way retailers and brands create and manage visual content.”
Threekit customers have seen increased conversion by as much as 40%, decreased product returns by as much as 80%, and saved nearly 90% on marketing costs compared to traditional photography. Threekit’s customers also include Crate & Barrel, CIROC, Tailored Brands, and Modarri.
“Threekit’s integration with Salesforce Commerce Cloud enables companies to seamlessly embed interactive 3D models into their websites, providing customers with unparalleled immersive commerce experiences. We’re thrilled to invest in the Threekit team as they bring their vision for 3D visual configuration and augmented reality to companies around the world,” explained Matt Garratt, managing partner at Salesforce Ventures.
