Octane AI Raises $5 Million to Help Shopify Merchants Personalize Ecommerce Experiences

Javelin Venture Partners and two new VPs guess on firm democratizing ecommerce software program that permits Shopify retailers to accumulate zero-party knowledge

SAN FRANCISCO, July 20, 2021 /PRNewswire/ — Octane AI, the pioneer zero-party knowledge advertising and marketing platform, at this time introduced it has raised $5 million in capital in a spherical led by Javelin Venture Partners, the investor behind Masterclass and Thumbtack, with participation from present traders Bullpen Capital, General Catalyst and Boost VC. The firm additionally introduced the appointment of Alex Gurevich, Managing Director at Javelin Venture Partners as a Board Observer, together with the addition of a special — consider it or not — Alex Gurevich as the brand new VP of Finance and Operations, and Vincent Silvey as the corporate’s first VP of Engineering.

Octane AI has raised $5M in a brand new funding spherical, employed two new VPs and launched Conversational Pop-ups to assist Shopify manufacturers accumulate zero-party knowledge and enhance their conversions charges.

The smartest manufacturers are shifting their advertising and marketing methods from a cookie-tracking strategy to zero-party knowledge.

“At Javelin, we love investing in groups that leverage know-how to work for folks as an alternative of in opposition to them. Octane AI does simply that by democratizing entry to personalization instruments for Shopify retailers, enabling them to see Amazon-level conversion charges, with out sacrificing their independence,” stated Gurevich. “We have been impressed by the super progress Octane has seen prior to now yr, whereas delivering an exceptional return on funding for his or her prospects. Matt and Ben are passionate entrepreneurs and out of doors the box-thinkers, who’ve constructed an unbelievable crew and tradition, which solely now will get stronger with the addition of Alex and Vincent. We are thrilled to help them.”

Online shops are experiencing a decline in conversion charges as a result of ecommerce competitors is rising, client expectations are rising and knowledge privateness guidelines are altering. Octane AI is at the moment empowering ecommerce entrepreneurs with instruments to accumulate zero-party knowledge and energy a personalised buyer journey throughout owned and paid advertising and marketing channels, boosting web site conversion charges and producing over $73 million in income for small and medium-sized Shopify shops across the globe.

The new spherical brings whole funding to date to $14 million and provides to the corporate’s super momentum over the previous yr with the latest launch of its new Conversational Pop-up product, the popularity by Shopify because the Best Storefront App and welcoming Shopify as a customer. In June, Shopify’s point-of-sale crew launched an Octane AI Shop Quiz to present a consultative expertise that helps retailers discover the precise point-of-sale {hardware} for his or her enterprise in seconds.

“With the highlight on privateness at this time, the neatest corporations and types on the planet are shifting their advertising and marketing methods from a cookie-tracking strategy to zero-party knowledge. Instead of counting on third-parties, manufacturers ought to give prospects the selection to share significant private info proactively so as to construct a relationship based mostly on deep personalization and belief,” stated Matt Schlicht, Octane AI CEO and Co-Founder. “Ecommerce quizzes and conversational pop-ups are an effective way to allow zero-party knowledge assortment, and our aim at Octane AI is to assist manufacturers present personalised procuring experiences, supporting their prospects with discovering one of the best merchandise for his or her preferences, wants, tastes and ache factors.”

The new financing and management additions will assist additional propel product growth, innovation and progress as the corporate continues to perform its mission of personalizing the procuring expertise. Joining this mission as VP of Finance and Operations is Alex Gurevich. With a monitor document of impression in high-growth know-how corporations like Google, Zendesk, and Credit Karma, Gurevich will assist Octane AI seize the market alternative and information the efforts behind the crew’s steady and fast progress. He shares extra about his imaginative and prescient for Octane AI on this article.

In the newly created VP of Engineering function, Silvey will likely be answerable for nurturing the software program growth groups to scale and optimize Octane AI’s platform. He will function a transformational technical chief and motivator on scale, high quality, and automation; constructing and supporting a world class technical crew. Silvey brings over twenty years of expertise in constructing extremely engaged software program engineering groups throughout monetary providers, schooling and advertising and marketing corporations, together with Campaign Monitor and J.D. Power. He shares extra about his new function at Octane AI on this article.

“We’re so thrilled to have Javelin, Vince and Alex be a part of our crew, notably at this significant time of change and alternative for ecommerce entrepreneurs to discover a new knowledge technique,” stated Ben Parr, Octane AI President and Co-Founder. “Instead of borrowing or paying for knowledge, that is the time to personal your knowledge by saying goodbye to third-parties and becoming a member of the zero-party knowledge motion! We are excited to be on the forefront of this and maintain scaling our platform to meet entrepreneurs’ calls for and construct true partnerships with Shopify retailers that gas their progress and success.”

To study extra about how Octane AI can add gas to your ecommerce model, go to www.octaneai.com or request a demo. Follow @OctaneAI on Twitter to keep up-to-date with the most recent information, choices and advertising and marketing suggestions.

About Octane AI
Octane AI is a zero-party knowledge advertising and marketing platform for Shopify retailers. Thousands of retailers at this time accumulate high-value knowledge immediately from buyers by way of our Shop Quiz and Conversational Pop-ups. They leverage that knowledge throughout advertising and marketing channels like the web site, e mail, adverts, SMS and Facebook Messenger to enhance the shopper journey with personalization. At Octane AI, we consider personalised conversations at each stage of the shopper journey — powered by zero-party knowledge — are the important thing to greater conversion charges.

Octane AI is an all-remote firm using crew members in over 14 international locations and was elected the 2021 Best Storefront App by the Shopify crew. The firm has acquired funding from Javelin Venture Partners, Bullpen Capital, General Catalyst and Boost VC, high Silicon Valley traders behind large manufacturers like Shopify, Masterclass, Snapchat, MassiveCommerce, Canva and Alibaba.



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