8.4.2024
Marie Berg
Content Manager
We have successfully raised €3.8 million in an extended seed funding round, led by Peak and backed by influential investors such as PROfounders Capital and Identity Ventures. This represents an essential milestone for us as it underlines the growing recognition of AI's transformative potential in the e-commerce industry. It sets the stage for us to refine our technologies further and expand our reach to enterprise customers.
We stand at the forefront of AI innovation, offering scalable B2B Software as a Service (SaaS) solutions that redefine how online retailers engage with their customers. Our flagship product, the Frontnow Advisor, is a virtual shopping assistant designed to bridge the gap between the personalized service of brick-and-mortar stores and the online shopping experience. It leverages generative AI to offer hyper-personalized, on-demand advice to shoppers, speaking in 117 languages and available round the clock without additional staffing. This service enhances the customer experience and ensures retailers stay competitive in the fast-evolving digital marketplace.
Furthermore, Frontnow Enhance, another one of our AI solutions, focuses on optimizing product descriptions within online stores. This tool cleanses and enriches product data, infusing it with contextual meaning to deliver SEO-optimized content that boosts rankings, attracts more traffic, and, ultimately, increases revenue. These advancements are powered by self-learning algorithms, including more than 40 different models, that continually adapt and improve based on proprietary corporate data, offering increasing value over time.
The new financial injection is planned for the continued technological development of our products and our company's expansion, particularly in enterprise customers. With the support of Peak, PROfounders, and Identity Ventures, we are well-positioned to extend our technological lead and drive our sales initiatives.
The question arises after the successful seed financing round: What's next?
Our co-founder and CEO, Marc Funk, has highlighted our rapid growth, which soared to over 1 million in Annual Recurring Revenue (ARR) within just nine months. With plans to significantly surpass this growth in the coming year, our focus remains squarely on delivering unmatched customer value, a principle that Funk believes will be the ultimate measure of the company's success.
As we set our sights on new goals, we are positioning ourselves as a beacon of transformation in the e-commerce sector with our blend of innovative AI solutions and strategic partnerships. With our commitment to technological excellence and customer value, we are not only navigating the future of retail but also leading the way.
Read our press release in our Newsroom.
We have successfully raised €3.8 million in an extended seed funding round, led by Peak and backed by influential investors such as PROfounders Capital and Identity Ventures. This represents an essential milestone for us as it underlines the growing recognition of AI's transformative potential in the e-commerce industry. It sets the stage for us to refine our technologies further and expand our reach to enterprise customers.
We stand at the forefront of AI innovation, offering scalable B2B Software as a Service (SaaS) solutions that redefine how online retailers engage with their customers. Our flagship product, the Frontnow Advisor, is a virtual shopping assistant designed to bridge the gap between the personalized service of brick-and-mortar stores and the online shopping experience. It leverages generative AI to offer hyper-personalized, on-demand advice to shoppers, speaking in 117 languages and available round the clock without additional staffing. This service enhances the customer experience and ensures retailers stay competitive in the fast-evolving digital marketplace.
Furthermore, Frontnow Enhance, another one of our AI solutions, focuses on optimizing product descriptions within online stores. This tool cleanses and enriches product data, infusing it with contextual meaning to deliver SEO-optimized content that boosts rankings, attracts more traffic, and, ultimately, increases revenue. These advancements are powered by self-learning algorithms, including more than 40 different models, that continually adapt and improve based on proprietary corporate data, offering increasing value over time.
The new financial injection is planned for the continued technological development of our products and our company's expansion, particularly in enterprise customers. With the support of Peak, PROfounders, and Identity Ventures, we are well-positioned to extend our technological lead and drive our sales initiatives.
The question arises after the successful seed financing round: What's next?
Our co-founder and CEO, Marc Funk, has highlighted our rapid growth, which soared to over 1 million in Annual Recurring Revenue (ARR) within just nine months. With plans to significantly surpass this growth in the coming year, our focus remains squarely on delivering unmatched customer value, a principle that Funk believes will be the ultimate measure of the company's success.
As we set our sights on new goals, we are positioning ourselves as a beacon of transformation in the e-commerce sector with our blend of innovative AI solutions and strategic partnerships. With our commitment to technological excellence and customer value, we are not only navigating the future of retail but also leading the way.
Read our press release in our Newsroom.
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