Marketplace optimization platform Optiwise.ai raises $1.3 million
Optiwise.ai, Inc ("Optiwise"), a leading marketplace optimization platform, has raised $1.3 million led by StartupXseed Ventures. Optiwise.ai assists brands and retailers in scaling their eCommerce business across multiple marketplaces by combining the power of machine learning and artificial intelligence, and the experience of a seasoned team of data scientists with decades of eCommerce experience to provide actionable insights and optimize performance across marketplaces.
With the new funds coming in, Optiwise.ai will continue to invest in the product, build a world-class team, and expand their current customer base beyond North America to other emerging eCommerce regions globally.
Since its inception, Optiwise.ai has onboarded hundreds of marketplace sellers and assisted them in significantly growing their businesses through its cloud-based platform. Most of these sellers witnessed a 3.2X increase in traffic, a 46% increase in conversion, and a 2X jump in revenues, and they are just starting.
"I'm thrilled to have StartupXseed as an investment partner on our journey to grow Optiwise.ai. This investment will be used to support additional Walmart capabilities on the platform, allowing sellers to easily replicate their Amazon success on Walmart and propelling our vision of assisting our customers in optimizing their revenue across marketplaces," said Deepak Goyal, Co-Founder and CEO of Optiwise.ai.
Rahul Shah, Co-Founder and CTO, Optiwise.ai said, "We have been investing in Artificial Intelligence (AI), and Machine Learning (ML) technologies to develop cutting-edge products to provide an exceptional customer experience, and this investment will accelerate our path to adding more advanced capabilities into our product that will provide additional insights such as cross-marketplace competitive intelligence and performance to our sellers"
"Using Optiwise.ai, we not only strengthened our branding on Walmart.com but also saw a significant boost in revenue," said Nick Lin from Flying Star LLC, who does over 9 figures of transactions on multiple marketplaces and has been an Optiwise.ai customer for a while.
Product listing optimization, in conjunction with optimized paid advertising, is a game changer in the eCommerce industry. When combined with marketplace intelligence, effective optimization strategies provide businesses with competitive visibility, resulting in higher conversion and sales.
Deepak Goyal and Rahul Shah, both IIT graduates with two decades of experience building enterprise SaaS products in the eCommerce space and extensive knowledge of AI/ML technologies, founded Optiwise.ai, a marketplace optimization platform.
Optiwise.ai Inc. is a leading marketplace optimization platform headquartered in Newark, California. Optiwise.ai is a team of eCommerce specialists, data scientists, statistical geeks, strategists, and programmers who have developed a one-of-a-kind SaaS platform that helps brands and retailers to replicate their success from one marketplace to another easily and seamlessly. In short, you have an AI-based tool that makes selling on Walmart, Amazon, and other e-commerce marketplaces more effective and productive.