San Francisco-based e-commerce marketing and analytics startup OnlineSales.ai has raised an undisclosed amount of funding in a pre-Series B round held in December 2020, from investors such as IvyCap Ventures, Core91 VC, Vivek Bhargava, Samrat Zaveri, Ramakant Sharma, Saurabh Dangwal, and more.
Founded in 2017 by Ashish Mehta, OnlineSales.ai provides what can be termed as an operating system for eCommerce businesses worldwide by uniting all avenues of customer acquisition, engagement, retention, analytics & monetization on a single platform. Its tools are integrated into a white-label set up within the client’s platforms, unlocking a group of apps offering solutions such as sponsored product ads, sponsored display ads, extended network ads, video listings, SKU (stock keeping unit) analytics and machine learning-driven ideal pricing discovery app, among others. The startup has enterprise clients across India, South-east Asia, the Middle East, and Africa and reports that the new capital would help it benefit the US$180 billion collective marketing industry globally. OnlineSales.ai also includes Indian companies such as Swiggy, Paytm Mall, Shop101 and Shopmatic as its clients. It claims to have been providing a 10x better experience in acquisition & retention marketing for eCommerce players. At the center of OnlineSales.ai’s AI platform, billions of data points are extracted every day from across retailers’ product catalog, demand velocity, user psychographics & funnel analytics. The platform utilizes this intelligence to deliver unmatched marketing experience & automation across networks & devices to eCommerce companies worldwide.
Ashish Wadhwani, Managing Partner at IvyCap Ventures was quoted to say, “We believe the offerings from OnlineSales.ai are extremely unique, global in scale and omnichannel in nature which would democratize monetization capabilities of marketplaces, aggregators and offline brands.”
CEO Ashish Mehta said, with numerous case studies across retail, automotive, CPG, and banking verticals; this newly obtained capital will help the startup expand multi-fold in the international markets more aggressively. He quoted, “Looking forward to working with the brilliant team at OnlineSales.ai to amplify our traction in the $180 Bn co-op marketing segment globally.”
About IvyCap Ventures
IvyCap Ventures was founded in 2011 by Vikram Gupta with a dream to leverage the global alumni ecosystems to foster entrepreneurship in India and maximize returns for its investors. IvyCap is led by an entrepreneur-centric investment approach focusing on high-quality proficient entrepreneurs from premier educational institutions of the country. The firm believes that, in the case of early/growth-stage startups, a strong collaborative approach is essential for their success. For this, it offers an organized, unique and structured mentor model that brings the necessary skills, industry experience and passion to support the development of its portfolio companies.
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