FindMine, the leader in AI-powered dynamic content creation for brands, today announced the closing of a new venture capital funding round. Led by XSeed Capital and Underscore VC, this investment completes a previous funding round and brings the total capital investment in FindMine to $9.9 million.
Proceeds from the investment will be used to accelerate go-to-market activities and advance the development of FindMine’s AI-powered content engine. Driven by predictive intelligence and merchant sales data, FindMine helps brands articulate their unique insights to increase revenue and inventory performance across multiple sales channels – including e-commerce, email campaigns, and more. -mail and targeted messages, advertising campaigns and on social networks, and in store. applications such as kiosks, personal shopper programs and sales associate platforms.
By focusing on the content bottleneck, FindMine has created an entirely new category that addresses current gaps in the personalization and customer data platform (CDP) markets. Today’s personalization landscape has done a great job of creating one-to-one communication channels with consumers based on their personal data. But the onus is on the brand to come up with content to share, resulting in the same small amount of assets being sent to each consumer/segment, as marketing teams cannot create bespoke editorial content for each consumer. FindMine’s technology enables marketers to present unique, curated buyable assets to each segment and customer to improve top-tier revenue with larger shopping carts and longer, more profitable customer lifecycles. . Merchants use FindMine to improve profitability and increase gross margins through more efficient inventory and logistics management.
“The current personalization process is broken, and one-to-one personality-based marketing just isn’t scaling because the industry has forgotten a big piece of the equation: content. We’re changing that with AI-powered automation that can create visual and purchasable assets in milliseconds,” commented Michelle Bacharach, CEO of FindMine. “We are excited about this investment, as it means we can continue to build the capacity of our platform to create highly produced and differentiated editorial content from scratch – enabling brands and retailers to maintain visibility with customers and other key audiences while driving both revenue and loyalty.
The new investment will allow FindMine to further develop its machine learning technology to take advantage of new data sets such as inventory location, enabling retailers and brands to improve sustainability by reducing split shipments. In addition, the company will further develop its “headless” offering, which allows content from the FindMine platform to be injected into any customer experience via the API.
“Retail has never been more competitive,” said Damon Cronkey, partner at XSeed Capital. “And FindMine has proven that they understand how to solve one of the most difficult problems in online marketing, which is to create a large volume of relevant content that stimulates buying behavior and leads to long-term success. Leveraging AI and their deep experience with top brands, FindMine is poised to become the leader in an exciting and incredibly large new market.
FindMine will grow its go-to-market team and continue to grow dynamic content creation as a market segment, developing new tools that will enable brands to use AI-powered content across their ecosystems. The company will place particular emphasis on linking merchandising data to marketing content and storytelling, emphasizing innovation around customer experiences that are only possible when retailers and brands no longer have content creation constraints.
“Michelle’s ability to combine e-commerce business development, brand empathy, and cutting-edge artificial intelligence technology makes her uniquely qualified to transform the way online merchants reach their customers at scale. scale,” said Lily Lyman, Underscore VC partner. “As a company with deep experience and interest in e-commerce, we believe FindMine will transform brands’ ability to effectively produce and distribute content to customers in this omnichannel world.”
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