San Mateo, California and Chicago, Illinois based Reflektion, a leading developer for customized platform solutions in the retail industry, announced it has raised $12 Million in a recent fundraising round. The round was led by Hasso Plattner, with participation from Battery Ventures and Clear Ventures.
Founded in 2012 by former Google employee Amar Chokhawala, Reflektion provides an AI-driven customer engagement platform that understands the intent of each customer in real-time and instantly delivers individually relevant content across all touchpoints.
Retail brands such as TOMS, Ann Taylor, Sur La Table, Godiva, and Destination XL use Reflektion’s AI solutions to combine individual shopper insights, product intelligence, and deep learning to create ecommerce experiences.
The company plans to use these funds to expand into international markets—particularly in the EMEA region, which accounts for about 10% of its total revenue.
Retailers are placing bets on AI to handle large amounts of data, gain a full view of the customer, and respond to individuals’ preferences and intent in real-time. This provides a very favorable period for Reflektion’s expansion, since the company has pioneered AI-driven customer engagement.
“Within short order, Reflektion has demonstrated how its AI-based technology and unique approach to knowing customers’ preferences and intent can dramatically impact business,” said Yair Reem of Hasso Plattner Ventures. “Reflektion continues to stand out in the space and we’re looking forward to what the future has to hold in terms of international expansion and further growth.”
“AI is truly redefining the way people shop and today there are more ways than ever to do so—from voice-enabled devices to photo search, for instance. In the coming years, experiences driven by Reflektion’s AI-powered solution will become even more in demand as brands look for the best option to deliver on a customer-centric approach,” said Chokhawala. “We’re motivated by changing industry demands, which make us well-positioned to continue to grow at the pace we have seen over the past few years.”