AI-powered merchandising platform Stylitics closes Series B funding
Artificial intelligence (AI)-powered visual merchandising platform Stylitics has secured $15m Series B funding, to expand its business and platform.
Artificial intelligence (AI)-powered visual merchandising platform Stylitics has secured $15m Series B funding, to expand its business and platform.
Growth investment firm PeakSpan Capital led the funding round with participation from Trestle.
This investment brings the total funding raised by the company to $21m.
The AI platform will use the investment to grow its sales and marketing operations, as well as develop new types of content-driven e-commerce and in-store experiences for brands, retailers and publishers.
“This round of funding validates the increased demand brands have for more intelligent and high-performance visual content.”
Stylitics founder and CEO Rohan Deuskar said: “More and more people are purchasing products they have never touched or experienced in the real world and retailers are challenged to create digital shopping experiences that provide excitement, context, and inspiration.
“This round of funding validates the increased demand brands have for more intelligent and high-performance visual content.
“At a time when the retailer with the best visuals wins, we are offering a new category of content that is on-brand, dynamic, personalized, and outperforms the others with the value it creates.”
The company stated that it has seen a 350% increase in revenue and has partnerships with 30 major retailers, such as Ann Taylor, Calvin Klein, Chico’s, Gap, Macy’s, Under Armour, and White House Black Market.
Leveraging AI and human stylists, Stylitics platform creates interactive and shoppable style content to assist fashion, apparel and accessories brands in product discovery.
Users can also use the platform to factor real-time dynamic elements, such as location, weather, out-of-stock or underperforming SKUs.
In March this year, Stylitics introduced the Stylitics Experience Studio featuring various drop-in widgets and powerful APIs for large retailers.
Retailers can also access various look-based shopping experiences, such as Visual Outfit Recommendations, Complete The Look, Shop The Model, Outfit Shops, Mix & Match, Gift Galleries, and Beauty Sets using the Stylitics Experience Studio.