US-based Optiversal has raised $4.2m in seed funding to power content with generative AI for retailers.
Led by Bling Capital, the seed funding has seen participation from Alpaca Ventures and Red Sea Ventures.
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Bling Capital general partner Ben Ling said: “Bling Capital is proud to support Optiversal in its mission to revolutionise the retail industry through its cutting-edge generative AI technology – helping consumers easily find highly relevant, yet often hard-to-find products sold by retailers.
“Optiversal’s early success with large retail enterprises and the expertise of its seasoned team speak volumes about their potential to transform the enterprise landscape.”
Optiversal removes operational and technical barriers for retailers to generate appropriate and quality content at scale.
Since its launch, the platform claims to have transformed tens of thousands of missed content opportunities into thousands of landing pages generating traffic, providing material revenue for firms and boosting consumer experience.
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By GlobalDataSo far, the company is stated to have generated more than $125m in new revenue for its retail customers, including several top-20 retailers, demonstrating the huge potential of AI-powered content creation in the retail segment.
Optiversal plans to use the proceeds from the seed funding in product development, technology and infrastructure, as well as bolstering efforts to meet increasing customer demands.
Optiversal founder and CEO Will Underwood said: “We founded Optiversal with the goal of revolutionising the way retailers approach content creation. Our platform addresses the challenges faced by large retail enterprises in generating high-quality, engaging content at scale. Our ability to develop custom AI models tailored to each of our customer’s unique voices enables them to maintain a consistent and distinct brand voice across all marketing channels while significantly reducing the time and effort required to produce high-quality content.
“We’re thrilled to have the backing of investors like Bling Capital, Alpaca Ventures and Red Sea Ventures, who share our vision for transforming the retail industry through AI-powered content creation solutions.”
The firm was established by serial entrepreneurs Will Underwood, Lucas Tieleman and Jarrod Wolf, who worked together in retail technology for almost a decade.
