NEW YORK--(BUSINESS WIRE)--Donde, which transforms the online shopping experience to help E-commerce sites mimic the way their customers think about products, today announced it has raised $6.5 million in Series A funding led by Matrix Partners, with participation from previous investors including senior leaders from AliExpress, Google, Waze and Mobileye. The funding will be used to scale the business and develop partnerships with major retailers in the US. Donde has now raised a total of $10M in funding to date and was previously backed by UpWest, Afterdox and Golden Seeds.
For many consumers, online shopping can be a frustrating experience because finding the right search terms to find exactly what they are looking for is largely guesswork. Product discovery is also highly influenced by what merchandisers manually prioritize on the site, leaving whole swaths of inventory hard to find. But Donde transforms that customer interaction by eliminating keyword search in favor of visual search navigation. Donde lets retailers turn product images into robust structured data, allowing for automated recommendations based on specific product attributes and the customer’s style DNA. As a result, retailers provide precise feature combinations (like a specific color and cut) to yield better search results that match customer intent.
“Visual discovery is changing the way consumers find products and interact with retailers,” said Liat Zakay, founder and CEO of Donde. “Shopping is inherently a visual experience. E-commerce continues to be the dominant channel for retail and so it’s crucial that merchants think like their customers, specifically by enabling visual search navigation that is highly personalized and relevant to their tastes.”
This latest funding comes on the heels of Donde announcing its partnership with Forever 21, which allows shoppers to search for items by simply clicking on product attributes they were searching for, like the length and fit of a skirt to the neckline and color of a shirt. The integration was originally only available on the Forever 21 mobile app, but just one month after launch, Forever 21 saw an increase in conversions and 20 percent increase in average purchase value, leading to a full expansion to web as well. Today, Donde is working on pilot programs with several other major retailers in the US and Europe.
“The traction and market validation that the Donde team has been able to secure to date has been remarkable,” said Hardi Meybaum, Matrix Partners. “The combination of sophisticated AI, computer vision and the overwhelmingly positive feedback they are getting from customers made us eager to invest, and we’re excited about what is next.”
Founded in 2014, Donde launched its software-as-a-service platform for retailers in January 2018. The company’s award-winning technology uses AI, computer vision and natural language processing to provide intuitive online search capability based on products’ visual features rather than keywords. By integrating Donde’s technology into their e-commerce operations, retailers are able to automate merchandising and product recommendations, react faster to trends, reduce operational overhead, shorten purchase times, and transform the online shopping experience for customers. To learn more, visit www.DondeSearch.com.