Seasoned founders with past successful joint ventures are set to redefine legacy commerce search with faster, smarter, and conversion-focused shopping experiences.
BOSTON, MA / ACCESSWIRE / December 18, 2024 / Cimulate, an innovator in enterprise AI for commerce, today announced it has raised $28 million in Series A funding led by Spark Capital with participation from its Seed stage investors Sierra Ventures and Pillar VC, with additional participation from LFX Venture Partners and Commerce Ventures. The funding will accelerate Cimulate's mission to revolutionize commerce by delivering transformative customer experiences through scalable personalization, with a foundation in generative-AI based search.
Cimulate created the industry's first Commerce Experience Server, empowering retailers to deliver hyper-optimized content and context-aware search and discovery experiences. At the core of the platform is CustomerGPT, the Large Language Model-based operating system that addresses the limitations of legacy commerce technologies, enabling faster, more relevant, and conversion-driven shopping interactions. CustomerGPT has delivered improvements in engagement above 20% and conversion above 10%.
"Today's commerce ecosystem is at a crossroads, with traditional search technologies failing to meet the expectations of modern consumers," said John Andrews, CEO and Co-Founder of Cimulate. "CustomerGPT combines the power of LLMs with actionable insights to optimize every touchpoint in the customer journey, driving measurable outcomes for retailers."
Cimulate's funding arrives at a pivotal moment for the commerce industry, with $234B lost annually to search abandonment. The company's Commerce Experience Server addresses this challenge by integrating context, content, and customer insights seamlessly, enabling retailers to harness the full potential of LLMs without compromising speed or scalability.
"Cimulate's ability to deliver a scalable LLM-based solution that leverages unique enterprise data immediately positions them as a leader in AI-driven commerce," said Alex Finkelstein, Partner at Spark Capital. "With their initial product focused on search, their innovative approach to transforming customer experiences sets them apart in this $2B commerce search market and the significantly larger commerce experience market."
Cimulate was founded by John Andrews and Vivek Farias, industry veterans with a track record of success in AI-powered retail innovation. Previously, the pair built Celect, an AI-driven retail predictive analytics company acquired by Nike in 2019. Vivek, a professor at MIT, brings expertise in reinforcement learning and applied probability, and John, a seasoned retail technology executive, delivers the strategy and execution to build a world-class product and organization. Their shared vision and technical expertise form the foundation of Cimulate's revolutionary approach to enterprise AI, enabling the company to establish itself as a leader in providing tailored solutions that redefine how businesses interact with customers.
To learn more about Cimulate, visit our website and schedule a demo.
About Cimulate
Cimulate combines deep expertise in commerce and AI. The company's CustomerGPT platform powers key functions across the customer journey, including search, product discovery, and conversational AI. By optimizing content delivery with real-time contextual understanding, Cimulate empowers retailers and brands to meet the rapidly evolving demands of today's consumers.
For more information, visit www.cimulate.ai.
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Lauren Gill
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SOURCE: Cimulate
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