ViSenze Pte Ltd, a Singapore-based developer of intelligent visual tools, closed a US$3.5m Series A round of financing.
The round was led by Rakuten Ventures, with participation from new investors Walden International and UOB Venture Management.
The company intends to use the funds to hire new research, product and infrastructure development people (read here), scale up its cloud platform, and enhance its market development resources to support partners internationally.
Founded by Oliver Tan, CEO, as a spin-off company of the National University of Singapore (NUS), ViSenze develops tools that provide intelligent visual recognition, visual search, matching and recommendation functions on the Web and mobile platforms, for eCommerce and contextual advertising applications.
The company derives revenues by enabling social networks, affiliate networks and media publishers to monetize the traffic on their visual media assets, and helping e-retailers achieve improvement in conversion rates on their visual merchandise with API based visual tools like reverse image search, visual-based similarity product search and recommendation.
ViSenze is also supported by Spring Singapore (SPRING) and Infocomm Development Authority of Singapore (iDA) via a grant award under the Technology Enterprise Commercialisation Scheme (TECS).
FinSMEs
19/02/2014