Maria Montero

ViSenze Image Recognition Startup Raises $ 20M Series …

ViSenze, a startup that provides visual search tools for online retailers such as Rakuten and ASOS, announced today that it has raised $ 20 million in Series C. The round was co-led by Gobi Ventures and Sonae IM, with the participation of other sponsors, including returning investors Rakuten and WI Harper.

Founded in 2012, ViSenze. It has now raised a total of $ 34.5 million (its last round was a Series B announced in September 2016). The Singapore-based company, whose clients also include Urban Outfitters, Zalora and Uniqlo, bills its software portfolio as a “personal shopping concierge” that enables shoppers to find or discover new products based on visual searches, tagging Automatic photos and recommendations based on recommendations. in your browsing history. ViSenze’s verticals include fashion, jewelry, furniture, and intellectual property.

The latest funding from ViSenze will be used to develop its software through partnerships with smartphone manufacturers such as Samsung, LG and Huawei. The company has offices in Asia, Europe, and the United States, and claims an annual revenue growth rate of more than 200 percent. Other startups in the same space include Syte.ai, Slyce, Clarifai, and Imagga.

In a statement, Rakuten Ventures partner Adit Swarup said: “When we first invested in ViSenze in 2014, retailers were just beginning to see the benefits of driving product recommendations with image data. Today, ViSenze not only offers recommendations for the world’s largest brands, but has also helped drive a paradigm shift in e-commerce. “Help consumers find products within their favorite social media images and videos, as well as initiate a search directly from their camera app.”

Other participants in the round included returning investors, Singapore Press Holdings (SPH) Ventures, Raffles Venture Partners, Enspire Capital and UOB Venture Management, as well as new investors Tembusu ICT Fund, 31Ventures Global Innovation Fund and Jonathan Coon’s Impossible Ventures .