Rep AI raises $8.2 million for its AI sales concierge tool
Rep AI raises $8.2 million for its AI sales concierge tool
The company leverages behavioral AI to analyze the browsing patterns of each shopper on Shopify, helping anticipate when assistance may be most needed.
Israeli startup Rep AI has announced it has closed a Series A round, bringing in a total of $8.2 million in funding led by Osage Venture Partners with participation from Flashpoint Venture Capital and Oryzn Capital. The investment will help develop its e-commerce sales tool, leveraging a proprietary combination of behavioral AI and large language models (LLMs) to help merchants provide personalized sales assistance at scale.
“While technology has changed immensely in the past 15 years, e-commerce has largely stayed the same – and so has its historically poor conversion rates. Rep AI is the evolution the industry has so desperately needed,” commented Yoav Oz, co-founder and CEO of Rep AI. “Unobtrusive and completely customizable to match each merchant’s product catalog and brand personality, it brings any sized business the benefits of a highly skilled sales expert that also happens to be infinitely scalable.”
Rep AI leverages behavioral AI to analyze the browsing patterns of each shopper on Shopify, helping anticipate when assistance may be most needed. At the right moment, its AI Concierge will offer help. With its personalized recommendations and relevant information, Rep AI claims merchants see a 30x ROI within the first month of implementation. Its technology drives an average of 22% higher increases in conversions with existing customers.
"Rep AI fills the need to consult with a professional while purchasing online. Especially for first-time shoppers at any given site, consumers want more information and assurance before making a buying decision. In that perspective, eCommerce today is broken, leading shoppers to experience distrust and anxiety. Rep AI solves this problem, assisting both shoppers and eCommerce businesses to have a better experience,” said Noam Wolf, Partner at Flashpoint Venture Capital.
"Rep AI brings a refreshing new approach to online sales, and it has already begun to realize its great potential," added Lior Segal, partner at Oryzn Capital. "The company's technology enables merchants to provide personalized sales assistance at scale, and we anticipate this solution will become a new standard in the market in the near future."
Rep AI was founded in 2019 and is already used by 500 merchants worldwide.
