This holiday shopping season is poised to offer customers better deals, potentially resulting in increased sales for retailers. Amid the deluge of emails bombarding customers from all directions, capturing those consumer dollars remains a challenging task.
Nevertheless, one company claims to have cracked the code on effectively targeting and engaging customers for brands and retailers.
Introducing Birdseye, a Toronto-based firm specializing in artificial intelligence for the retail and e-commerce sectors. Founded in 2021 by Matt Bogoroch, along with his brother Adam Bogoch and Shardul Frey, Birdseye aims to equip Shopify businesses with e-commerce insights to elevate their marketing efforts and level the playing field with larger corporations.
Recognizing that smaller online retailers lack dedicated analytics teams to provide crucial data for enhancing their sales strategies, Birdseye expanded its services over the years to cater to major brands and retailers. Their platform now offers AI-powered chief marketing officer capabilities, such as a unified dashboard for executing highly personalized email and SMS campaigns, leveraging insights from financial transaction data.
By leveraging its technology to predict the products customers are most likely to purchase at any given moment and price point, Birdseye streamlines millions of marketing actions for retailers. This includes optimizing inventory levels to minimize the need for discounts or extensive email campaigns. Furthermore, Birdseye can alert retailers to potential customer churn, enabling them to proactively engage with tailored offers to retain customers.
CEO Matt Bogoroch highlighted to TechCrunch via email that each personalized recommendation is meticulously crafted using innovative language design, ensuring relevance and engagement for each recipient. For instance, Birdseye’s AI can identify customers interested in purchasing unique items like size 16 golden shoes from Nike and offer customized pricing to boost sales.
Birdseye boasts partnerships with around 120 brands, including Midori, case & bougie, and Eva Franco, marking a 100% increase since its inception. While Bogoroch refrained from divulging specific profit figures, the company secured \(500,000 in a pre-seed round from Drive Capital in March, followed by an additional \)3 million in seed funding from the same venture capital firm. Masha Khusid, a partner at Drive Capital, joined Birdseye’s board of directors as part of the investment.
With this fresh infusion of capital, Birdseye plans to expand its client base to encompass more mid-market and enterprise businesses. Currently boasting a team of twenty employees, the company anticipates growing its workforce to fourteen, primarily focusing on expanding its machine learning expertise.
