Black Crow AI plans to use the funding to speed up the development of new ML use cases. Here are the top-line bullets you need to know.
Black Crow AI, an e-commerce analytics company, has raised $25M in a Series A. The round drew participation from Good Friends, Imaginary Ventures, Interplay Ventures, Left Lane Capital, and Red Antler, among others.
HOW’S THE COMPANY PERFORMING?
- New York-based Black Crow AI enables retailers to predict shopper behavior and provide product recommendations.
- Black Crow AI has acquired 225 new customers over the past 9 months. Sakara Life, Solo Stove, and Liquid IV are included among its customer base.
- The startup’s headcount has already increased by 150% in 2022.
Source: Black Crow AI
WHY DOES THE MARKET MATTER?
- The global e-commerce market is expected to reach a value of $16.22T by 2027, growing at a CAGR of 22.9%, according to Meticulous Market Research.
- Global e-commerce funding increased 184% year-over-year (YoY) in 2021.
- E-commerce adoption has increased considerably amid the pandemic — in fact, e-commerce sales shot up 35% YoY in 2021, according to McKinsey. This has compelled retailers and brands to turn to e-commerce enablement tools to develop and enhance their digital properties.
- Given Amazon’s dominance in the online retail market, retailers are turning to solutions that enable them to differentiate their offerings through personalization, distinctive convenience, sustainability, and more.
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