Octup raises $4 million pre-Seed for operational AI-driven e-commerce platform
Octup raises $4 million pre-Seed for operational AI-driven e-commerce platform
The company focuses on processing and consolidating data from various operational domains, including marketing, last-mile delivery, customer support, and warehousing
Octup, which develops an operational AI-driven e-commerce insights platform, announced on Tuesday that it has secured $4 million in pre-Seed funding from Tal Ventures, as well as the founders of unicorn companies Trax and Rapyd. Bullet Ventures, HCS Investors Group and World Trade Ventures also participated in the round.
The company focuses on processing and consolidating data from various operational domains, including marketing, last-mile delivery, customer support, and warehousing, among others. Octup detects anomalies, correlations, and trends to pinpoint the root causes of cost inefficiencies.
Octup’s AI-powered discovery platform gathers data from all aspects of the business, encompassing the entire end-to-end value chain. This platform is complemented by an AI engine that collects and interprets insights.
"In creating Octup, our goal was to tap into deeper operational insights beyond standard metrics to uncover real opportunities," said Alon Partuk, CEO and Founder of Octup. "We believe it's crucial to understand how key business metrics like lifetime value (LTV) and client retention relate to the quality of our service. Our dedicated team tackled technical and data complexity challenges head-on, developing an advanced engine to access previously elusive information. This innovation now provides complete operational visibility, revealing hidden costs and delivering significant value to our clients. Companies leveraging Octup’s solution have seen their overall profits increase by up to 40%."
Octup said it serves a global customer base spanning various sectors, including apparel, supplements, consumer electronics, skincare, cosmetics, and jewelry.
