Birdseye Raises $3 Million in Seed Funding
Birdseye, a leader in AI for retail and e-commerce, revealed new $3 million in seed funding from Drive Capital. Drive Capital had previously led a $500,000 pre-seed investment in March this year. Masha Khusid, a partner at Drive Capital, will now join Birdseye’s board.
Birdseye’s product aids retailers in running highly personalized campaigns. Using AI, it performs millions of marketing actions to match shoppers with products they’re likely to be interested in, considering both timing and pricing. This AI is trained on extensive retail transaction data. The technology also helps retailers match excess inventory with customers who are likely to buy, avoiding generic discounts or mass emails. Birdseye enables large brands and retailers to gain real-time consumer insights and automate personalized email and SMS offers.
Matt Bogoroch, CEO of Birdseye, commented:
“Our technology isn’t about generic promotions or marketing campaigns; it’s about enabling retailers to serve each customer’s unique preferences, delivering tailor-made offers that resonate positively. It’s a win-win, with shoppers valuing personalized deals and retailers benefiting from increased loyalty and engagement.
Birdseye detects potential customer attrition beyond cost-effective advertising by identifying when a customer might be at risk of leaving. It allows retailers to proactively respond with personalized pricing and product offers to retain customers. Birdseye’s AI doesn’t just benefit brands and retailers; it aims to provide consumers with a completely personalized shopping experience, reimagining how they connect with brands.
Shardul Frey, CTO of Birdseye shared:
“By leveraging advancements in AI, we are improving the sell-through rates of stalling or out-of-season inventory. We’re also helping generate unprecedented customer engagement. Retailers can now automatically understand the unique preferences of millions of customers.”
Birdseye’s success stems from its adaptable product development and dedication to solving retailer problems. With Drive Capital’s backing and the new $3 million in seed funding, Birdseye aims to reshape the future of retail.
