Wizard will use the funding to hire additional staff across its product development, AI, ML, finance, sales, and operations teams. Here are the top-line bullets you need to know.
Wizard, a conversational commerce company, has raised $50M in a Series A that drew participation from Accel and New Enterprise Associates, among others.
HOW’S THE COMPANY PERFORMING?
- New York-based Wizard offers AI-powered conversational tools for e-commerce businesses, allowing them to connect with their customers via text messages to accelerate the rate of sales and purchases.
- The company claims to have acquired Stylust, a text-enabled shopping platform.
- It has offices in New York and Austin.
WHY DOES THE MARKET MATTER?
- The global customer communications management market is projected to grow at a CAGR of 11.2% and reach a value of $2.65B by 2028, according to Verified Market Research.
- Rising consumer demand for personalized shopping experiences and, relatedly, real-time communication is contributing to market growth.