AI Constructor Announces $25 Million Series B Led by Sapphire Ventures, Triples Valuation to $550 Million – Retail Technology Innovation Hub

Eli Finkelshteyn, CEO and co-founder of Constructor, says: “We are very proud of this fundraiser, but it is important that we remember that this is just a demonstration of good work for our customers. If we don’t use this to get them better results, we’re missing the point.”

“We started using Constructor with an idea that seemed crazy to most of our industry at the time: that understanding shoppers’ preferences through AI could give them a much better product search and discovery experience than simply matching typed keywords. “

“We believe that placing artificial intelligence at the heart of our system from the very beginning has played a large role in the success we have been able to deliver to our customers, but we also believe that there is always room to provide them with a better service, and that is the most important thing we we want to leverage this investment.”

“Our success will always be a symptom and a function of them. Through our partnership with Sapphire Ventures and Silversmith Capital Partners, we are extremely excited to develop more e-commerce capabilities and expand into additional geographies, which will provide greater value to our customers around the world.”

Petco

Pet health and wellness retailer Petco recently turned to Constructor to improve and personalize search results, experience reviews, product recommendations and landing pages on its website and mobile app, driving a 13% increase in e-commerce conversions and 4% revenue increase across the site.

“What we loved about Constructor was not only that it was true AI, built specifically for our industry, but also that its AI was incredibly transparent,” says Tony Gabriele, vice president of digital strategy at Petco.

“None of this is a black box – so we don’t have to guess what it’s doing or why – and when we have questions, the Constructor team are always happy to talk to us about it. We evaluated every supplier on the market and Constructor was simply different.”

“The system is easy to use, the team is motivated and pleasant to work with, and most importantly, it paid for itself along with the transition costs in less than a year after implementation.”

“Artificial intelligence early adopters like Constructor are leading the shift in software away from simple workflow management towards delivering business outcomes,” says Sri Rao, Silversmith general partner.

“We are encouraged by the company’s ability to maintain its commitment to innovation and customer success while growing rapidly since our initial investment, and we are pleased to both expand our commitment and welcome Sapphire Ventures as Constructor enters its next phase of growth.” .