• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
  • Contact

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • Sponsored Placement
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

ViSenze, The Global Leader for AI Powered Visual Shopping, Raises US$10.5 Million In Series B Funding

Logo

News provided by

ViSenze

Sep 15, 2016, 09:00 ET

Share this article

Share this article


SINGAPORE, Sept. 15, 2016 /PRNewswire/ -- ViSenze, the Artificial Intelligence company that develops breakthrough visual technology for e-commerce and digital businesses, announced today that it has successfully completed a US$10.5 million Series B round. The financing will be used to invest further in the company's proprietary image recognition technology, expand headcount and grow its international offices.

ViSenze AI powering Myntra's fashion app
ViSenze AI powering Myntra's fashion app
Video commerce demo by ViSenze
Video commerce demo by ViSenze
ViSenze AI powering Myntra's fashion app Video commerce demo by ViSenze

The funding was led by Rakuten Ventures, the venture capital arm of Internet giant Rakuten and 2 co-lead investors: WI Harper Group - a leader in cross-border investment between United States and China, and Enspire Capital - a venture capital firm that focuses on early stage technology startups in United States and Asia.

Other participating investors include SPH Media Fund, the investment arm of media company - Singapore Press Holdings (SPH), FengHe Fund Management - an Asian alternative asset management firm founded by Alibaba ex-CTO John Wu, Raffles Venture Partners, Phillip Private Equity, and UOB Venture Management.

"ViSenze has achieved impressive market traction with their ground-breaking AI technology in the e-commerce space. With their innovation DNA, they are developing new solutions, bringing simplified shopping experiences on digital content platforms. Their new solutions for video commerce have huge potential too. We are very excited to continue investing in ViSenze and lead their series B round," said Mr. Saemin Ahn, Managing Partner of Rakuten Ventures.

The solid vote of confidence from investors reflects the significant revenue growth of over 300% year on year that the company has achieved in the last 12 months. ViSenze's global clients include well-known players like ASOS (leading global fashion marketplace), Myntra (India's leader fashion e-commerce), Rakuten Ichiba (Japan's leading marketplace), Interpark Corporation (a South Korea leading online auction and online shopping mall), Lazada Group (SouthEast Asia's leading marketplace), Zalora (SouthEast Asia's fastest growing fashion e-commerce), Essilor (global leader in eyewear) and many more.

Across all deployed sites, ViSenze's API based solutions are exposed to over 250 million monthly active users today, helping them simplify their shopping experiences in a booming retail ecommerce world worth $1.671 trillion worldwide.

ViSenze's solutions for ecommerce - such as visually similar product recommendations, out-of-stock alternatives, search by image, and automated product tagging - create an uplift in conversion rates. These solutions are built on cutting-edge AI technology combining deep learning and computer vision, and delivered over distributed architecture which is optimised for scale and performance.

"Online search is a fundamental part of our daily lives, yet the majority of visual shoppers are saying keyword search is inadequate in today's visual web world. So we want to solve this problem by simplifying the way online users look for information or shop for products online," said Mr. Oliver Tan, Co-Founder and CEO of ViSenze.

"In online shopping, we train our visual shopping AI to look deeply for visual attributes in products and match them to available products that shoppers are searching for. We have generated up to 70% uplift in conversion rates for our retail clients through continuous search quality improvements and innovations developed by our R&D team," Oliver added.

The company is now preparing to introduce discovery-driven shopping solutions to visual content sites. These solutions specifically address the issue of broken links between visual content sites that inspire shopping interest, and the type of products being sought.

"As the world of commerce and content becomes intertwined inextricably, ViSenze's ability to directly connect content discovery to commerce opportunities is very promising. We see opportunities to leverage their technology to drive new experiences that delight our customers," said Mr. Chua Boon Ping, CEO of SPH Media Fund. 

ViSenze is currently running pilot projects with content owners and online retailers.

Besides expanding the R&D team of machine learning and computer vision scientists, the new funding will enable the company to grow its offices in the United States and India, as well as to open up new offices in the United Kingdom and China.

About ViSenze

ViSenze is an Artificial Intelligence company that develops advanced visual search and image recognition solutions to help businesses in e-commerce, retail and content publishing. Built on technology combining machine learning and computer vision, ViSenze recommends visually similar items to online shoppers in milliseconds, either on e-commerce platforms when they browse or search by uploading a picture, or on content publishers platforms like social media and video networks.

Built for scale and performance, ViSenze's solutions are used by some of the largest e-commerce companies like Rakuten, ASOS, Myntra and Lazada to increase their engagement and conversion rates. Brands use ViSenze to turn images into engagement, and publishers use ViSenze to generate monetization opportunities from their visual media assets.

ViSenze has offices in San Francisco, New Delhi and Singapore. The company is a spin-off from NExT, a leading research centre jointly established between National University of Singapore and Tsinghua University of China. ViSenze is recognised for its innovation and was voted Most Promising Startup at Emerging Enterprise Award 2015. The company is also a MasterCard StartPath supported startup.

Media contact
Adelina Peltea
Marketing Director at ViSenze
adelina @visenze.com

Photo - http://photos.prnewswire.com/prnh/20160914/407483
Photo - http://photos.prnewswire.com/prnh/20160914/407484
Logo - http://photos.prnewswire.com/prnh/20160914/407485LOGO

SOURCE ViSenze

Related Links

https://www.visenze.com

Modal title

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2023 Cision US Inc.