ViSenze raises $20 Million Series C in a co-led funding round by Sonae IM and Gobi Partners
This latest funding round enables the artificial intelligence company to further invest in its penetration among smartphone manufacturers, as well as with consumer and social communication applications
ViSenze, the artificial intelligence company powering visual commerce, today announced it has raised $20 million in Series C funding. Sonae IM, European-based corporate venture investor specializing in retail and telco tech as well as cybersecurity and Gobi Partners, a venture capital firm focusing on innovative technologies in China, Hong Kong, and Southeast Asia co-led the round with participation from a number of new investors as well as existing investor Rakuten. Founded in 2012, ViSenze is experiencing significant global expansion with over 80 employees, offices in Singapore, China, the United Kingdom, the United States, South Korea, and Japan, as well as global customers including leading retailers Rakuten, ASOS, Urban Outfitters, Zalora, and more. Today’s financing will be used by ViSenze to provide advanced, vertically-focused visual commerce technology to retailers, brands, and media companies, as well as enhance its platform solutions through its partnerships with major smartphone manufacturers, making visual shopping possible on native camera lenses. In addition to its partnerships with smartphone manufacturers including Samsung, LG, Huawei, and more, the company’s platform solutions have linked over 400 million products from over 800 major merchants and retailers on its global affiliate network.
ViSenze powers visual commerce at scale for retailers and publishers. The company delivers intelligent image recognition solutions that shorten the path to action as consumers search and discover on the visual web. Retailers like Rakuten and ASOS use ViSenze to convert images into immediate product search opportunities, improving conversion rates. Media companies use ViSenze to turn any image or video into an engagement opportunity, driving incremental revenue.
Venture-backed by Rakuten and WI Harper, ViSenze is built by web specialists and computer scientists with deep machine learning and computer vision experience. ViSenze has offices in US, UK, China, South Korea, India, and Singapore. For more information please visit: https://visenze.com/
About Sonae IM
Sonae IM is the technology investment arm of Sonae Group, a multinational exceeding six billion euros in revenues with core activities in retail and telecommunications. Sonae IM invests globally in retail and telecommunications technology companies, as well as in cybersecurity. Sonae IM has 26 direct investments, encompassing stakes in companies from early stage to growth stage and stakes in 20 companies, namely OutSystems and Feedzai through Armilar Venture Partners.
About Gobi Partners
Gobi Partners is one of the first venture capital firms with a regional presence across China, Hong Kong, and ASEAN with over $1.1 billion in assets under management (AUM). The firm, headquartered in Shanghai and Kuala Lumpur, supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 11 funds to date, invested in over 200 startups, and has grown to nine offices across Beijing, Tianjin, Shanghai, Hong Kong, Bangkok, Kuala Lumpur, Singapore, Manila, and Jakarta. For more information, please visit www.gobivc.com
About Rakuten Ventures
Rakuten Ventures is a venture capital arm of Rakuten, Inc. specializing in startups, early, and growth stage investments. The firm seeks to invest in fin-tech, information technology services, advertisement technology, e-commerce, ad-tech companies, audio ad targeting, artificial intelligence, and internet software services. It seeks to invest in companies in Japan, Israel, Asia Pacific, and the United States. Rakuten Ventures was founded in 2013 and is based in Singapore, Singapore, with an additional office in Japan.