Vizit Raises $10M in Venture Funding to Transform Ecommerce with New AI-Powered Image Analytics Platform
BOSTON, November 07, 2022--(BUSINESS WIRE)--Vizit, the leader in image analytics software for global brands and retailers, today announced a $10 Million Series A round led by Infinity Ventures and Brand Foundry Ventures to fuel growth and help ecommerce, marketing, and creative teams win the race for consumer attention through Vizit’s industry-leading Visual Brand Performance Platform.
The round also added new investors eGateway Capital and several prominent CPG, retail, and technology executives, with participation from existing investors Lakefront Partners, Lubar & Co, and others.
Vizit’s groundbreaking technology harnesses the organic interactions millions of consumers have with online commercial imagery to generate new AI-powered models of their visual preferences. These models—called Vizit Audience Lenses—give brands the ability to evaluate visual content and new concepts "through the eyes" of their target audiences in real time, ensuring the images used to represent their products are effective at capturing their desired audience’s attention, and are able to trigger conversion.
Images have become the foundation of every commercial website, retailer, and online marketplace, yet marketers struggle to understand which images will appeal most to their key consumer audiences.
"In all of human history, it has never been possible to see through someone else’s eyes," said Jehan Hamedi, Founder and CEO of Vizit. "As a result, no person or company knows how to best present their products and services to maximize appeal with their target consumers—resulting in millions of dollars wasted in unsuccessful promotions, lost sales, and countless missed opportunities to use the right images to attract and convert new customers. Vizit’s technology provides content creators, marketers, product innovators, and ecommerce leaders with the ability to transform their image-based content and designs into powerful assets that engage targeted consumers and outshine competitive offerings on the digital shelf and beyond."
Today, Vizit has enterprise customers in 10 countries across a range of industries, including several of the top 10 largest food and beverage companies, the largest motorcycle manufacturer, and the largest cosmetics and beauty company in the world.
"Every industry you can think of depends on successful visual communications and visual brand building," said Brian Spaly, General Partner at Brand Foundry Ventures and Founder of Bonobos and Trunk Club. "Vizit has forever changed the way products are merchandised, market research is conducted, campaigns are created, new products are conceived, and brands are built. We’re proud to be co-leading this round of funding for Vizit."
Vizit is changing the way billion dollar companies attract and convert their customers
Vizit’s Visual Brand Performance Platform delivers predictive insights about how consumers will react to content, how brands’ content performance compares to their competitors, and what design elements will capture a target audience’s attention, make products stand out on the digital shelf, and drive category-dominating levels of ecommerce conversion.
"Before Vizit, Mars never had a way to determine the imagery and design elements that contribute to conversion,'' said Roman Vorobiev, Global Director of Design and Artwork Management, Mars Incorporated. "Vizit gives us an anchor point to measure how relevant and effective our images are for our audience, and we have proven that higher Vizit Scores on our content lead to up to 30% more units sold across major retailers. We are now reporting on our Vizit Scores in nearly a dozen countries and Vizit’s software has become a critical part of our infrastructure as a global organization."
Blending AI, creativity, and commerce to drive brand success in the visual age
While new AI technologies have emerged to help marketers generate more images, Vizit’s software platform is designed to measure and optimize the commercial potential and conversion-power of imagery, uniting and elevating creative and commerce worlds and ushering in a new age of AI-enabled visual brand building.
As more shoppers move online to discover and purchase their favorite products, visual brand performance will continue to grow in importance, shaping the future of every company’s sales and marketing engine for years to come.
One of the fastest-growing new AI startups in the United States, Vizit helps the world’s largest brands and retailers win the race for consumer attention by enabling teams anywhere in the world to measure, manage, and optimize their image effectiveness at every step of the consumer journey. For more information, visit us at www.vizit.com.
About Infinity Ventures
Founded in 2021, Infinity Ventures is an early stage venture firm investing in global fintech infrastructure and commerce enablement. The firm’s approach is grounded in deep sector focus, multi-stage investment experience from seed to exit, and relationships across the fintech and commerce enablement ecosystems.
About Brand Foundry Ventures
Brand Foundry Ventures is an investment firm led by former operators that specializes in disruptive and innovative technologies, products and services. BFV is headquartered in Austin, TX and currently investing out of their fifth venture fund focusing on seed and series A stage opportunities.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221107006016/en/
Zach Galasso | DPA Communications
978.604.5423 | firstname.lastname@example.org