Syte, a NYC-based provider of an AI-powered product recommendation engine built from the ground up for apparel eCommerce, received an investment from Pereg Ventures.
The amount of the deal was not disclosed.
The investment included participation from Magma VC, MizMaa, and Stardom Ventures.
The company intends to use the funds to expand its reach, optimize key eCommerce metrics, and redefine how apparel brands connect with customers.
Led by CEO Ziv Ben-Barouch, Syte is an AI-powered product recommendation engine built from the ground up for apparel eCommerce, used by brands like Perry Ellis, Hibbett Sports, Monoprix, and many more to boost conversions and drive sales. Their proprietary algorithms, trained on billions of shopper interactions, can see the attributes that drive apparel sales, size, fit, color, style, occasion, and more, and deliver recommendations to shoppers. It integrates across the eCommerce journey, from product description pages and ‘shop the look’ features to email marketing and checkout, helping brands cross-sell, upsell, solve out-of-stock challenges, and optimize product discovery to drive measurable sales growth.
The company has more than 100 customers worldwide in apparel, footwear, jewelry, and home decor.
FinSMEs
05/12/2024