ViSenze, a Singapore-based artificial intelligence company powering visual commerce, raised $20m in Series C funding.
The round, which brought total funding to $34.5m, was led by Gobi Partners and Sonae IM, with participation from Tembusu ICT Fund, 31Ventures Global Innovation Fund, and Jonathan Coon’s Impossible Ventures, as well as existing investors Rakuten Ventures, WI Harper Group, Singapore Press Holdings (SPH) Ventures, Raffles Venture Partners, Enspire Capital, and UOB Venture Management.
Founded in 2012 by Oliver Tan, CEO, ViSenze powers visual commerce at scale for retailers and publishers by delivering intelligent image recognition solutions that shorten the path to action as consumers search and discover on the visual web. Retailers like Rakuten, ASOS, Urban Outfitters, Zalora, and more use the company’s solutions to convert images into immediate product search opportunities. Media companies use ViSenze to turn any image or video into an engagement opportunity.
The company, which has over 80 employees in Singapore, China, the United Kingdom, the United States, South Korea, and Japan, intends to use the funds to provide advanced, vertically-focused visual commerce technology to retailers, brands, and media companies, as well as enhance its platform solutions through its partnerships with major smartphone manufacturers.
In addition to its partnerships with smartphone manufacturers including Samsung, LG, Huawei, and more, the platform solutions have linked over 400 million products from over 800 major merchants and retailers on its global affiliate network.
Previously, ViSenze raised a $10.5m Series B round in 2016.
FinSMEs
19/02/2019