Klevu Launches AI-Powered Search and Discovery Platform to Help Retailers and Brands Increase Online Conversion
Klevu, the leading provider of AI-powered search technologies for retail e-commerce sites, has launched Discovery Suite, an end-to-end discovery solution that captures online shoppers' aim to accelerate conversion, average order value, and loyalty. Klevu's best-in-class discovery tool learns from shoppers at any stage of their journey to an online store, not just as they type keywords into the search box, and then leverages AI to deliver extremely important, personalized search and discovery experiences that lead to conversion increases of up to 52%.
The company has confirmed a $12 million Series A funding led by Alfvén & Didrikson, with support from early investors EVLI Growth Partners, Jerry Pruttz Holding, and Jonas Dromberg. Klevu plans to use the funds to expand its global presence and create new products that use machine learning and natural language processing to help online retailers achieve data-driven business success.
AI Is No Longer the Secret to Success for Only a Handful of Retail Giants
While average online conversion rates vary from 1% to 3%, shoppers are three to five times more likely to convert when they can easily find specific items. Klevu's Discovery Suite assists online retailers of all sizes in increasing conversion rates by effortlessly matching customers with the items they need. In just hours to weeks, the end-to-end search solution optimizes relevancy through all search functions and integrates quickly and seamlessly with all other digital and e-commerce channels, including Shopify, Magento, and BigCommerce.
Klevu's Discovery Suite also allows brands to customize the look, feel, and experience of search and discovery, allowing them to keep control of their own identity on their online stores, which is important considering the highly crowded e-commerce space and the pandemic-fueled rise in e-commerce shopping.
Besides Puma, more than 3,000 other leading global brands, including Toys "R" Us/Babies "R" Us, Yamaha, Callaway, Made.com, Sunspel, and ColourPop Cosmetics, are now using Klevu's proprietary technology to offer more personalized shopping and exploration experiences. These brands will collect data insights from their customers' search and discovery experiences to recognize the demand for new category extensions and product improvements, as well as to guide merchandising, catalog, and promotional decisions. Brands will combine this data into their ERP systems, email marketing systems, and POS systems, enabling for a more seamless omnichannel shopping and discovery experience and also empowering in-store associates with insights that enable them to have a more personalized experience for each customer they serve.
ABOUT KLEVU
Klevu captures e-commerce shoppers' purpose and then uses artificial intelligence to deliver highly specific, personalized online shopping and discovery experiences that go far beyond keywords typed into the search box. The company's Discovery Suite technology offers a smooth, quick online search experience that improves traffic, conversion, and loyalty while reducing bounce rates. The end-to-end discovery and search solution is simple to install, optimize, and maintain, and it seamlessly integrates with the technology of major shopping platforms in only hours. Klevu's proprietary technology drives traffic, conversion, and loyalty for over 3,000 of the world's leading brands, including Puma, Yamaha, Callaway, Toys "R" Us,Made.com, and Jack Daniel’s.