The London Technology Club (‘LTC’), which includes some of the world’s leading technology investors, has invested in Reflektion, the world’s leading AI-powered personalisation platform for the retail industry. LTC invested in Reflektion’s $13.5m funding round alongside leading venture capitalists such as Clear Ventures, Intel Capital, Battery Ventures and Hasso Plattner Ventures.
Reflektion currently manages approximately $18bn of GMV (Gross Merchandise Value), over $5.5bn unique shopping sessions (since Jan 2018) and 300 million unique anonymous shopper profiles. The fund-raising will bolster Reflektion’s growth ambitions to move beyond only eCommerce and into grocery, and penetrate other online commerce markets such as B2B2C, B2B. The funding also supports Reflektion’s longer-term ambition of leveraging blockchain technology for user digital ID.
Reflektion is an award-winning next-generation customer engagement platform, that delivers real-time intelligent personalisation across eCommerce marketing channels. Reflektion’s AI-powered personalisation platform listens to the behaviours of each individual shopper, utilises artificial intelligence to calculate their preferences and intent, and then responds to every moment-to-moment interaction by displaying the most relevant content and products in real-time and across the digital touchpoints that matter most—including preview and site search, product recommendations, category and landing pages.
London Technology Club Founder and Chief Executive Officer Konstantin Sidorov said: “We’re delighted to have invested in Reflektion alongside some of the world’s top VC investors. London continues to be one of the leading destinations for technology companies seeking financing and, thanks to our first-class network, we have the opportunity to invest in some of the world’s most exciting young tech companies like Reflektion. With its market-leading technology platform, We see potential for Reflektion to diversify its business in other sectors such grocery, manufacturing B2B portals, and aftermarket parts marketplaces.
Amar Chokhawala, Founder & CEO of Reflektion said: “We are going from strength to strength, we are acquiring approximately 8.5m new shopper IDs per month and are the leading solution for high profile retail brands such as Chico’s, Petco, Skechers, Ulta, RiteAid, and Reeds Jewelers rely on Reflektion’s platform.”
The investment in Reflektion was the sixteenth investment by LTC in the past 12 months including Revolut, Flo Health, Knotel, Mira Labs and Outdoorsy.