Contructor, a San Francisco-based eCommerce Startup, has closed a $55 million Series A funding round to revolutionize product discovery.
The funding round was led by Silversmith Capital Partners, bringing the total funding raised by the startup to $61 million. Other investors who participated include David Fraga, former President of InVision; Kevin Weil, former Head of Product at Twitter and Instagram; Jason Finger, founder of Seamless; Carl Sparks, former CEO of Travelocity; Robyn Peterson, CTO at CNN; and Dave Heath, Founder of Bombas, Sri Rao, General Partner of Silversmith Capital Partners, referred to the round by stating:
“Constructor has built a search and discovery platform that is truly making a difference for enterprise retailers. They are providing customers with comprehensive and optimized search and discovery that is unmatched in the market. We are excited to partner with the Constructor team as they continue to revolutionize search and discovery capabilities for retailers across all platforms.”
The eCommerce startup is aiming to revolutionize the retail industry by harvesting the power of AI to improve personalized product discovery, allowing online retailers to compete with titans like Amazon. This approach is especially relevant when considering that Google, the most used search engine in the world, has been unable to provide the same level of functionality when it comes to site search. Eli Finkelshteyn, CEO and Founder of Constructor. said about this:
“Constructor is the only product discovery platform built from the ground up to learn from the actions of shoppers, without ever collecting personally identifiable information, to improve their discovery experience as they shop. We’re incredibly proud of the real, measurable wins every one of our retail customers have seen both in revenue and user experience after implementing Constructor, all while doing the right thing on privacy. We’re already delivering the biggest lifts in the industry, but the most exciting part is how much better the discovery experience can get with this new investment.”
With eCommerce becoming the predominant model over the past years, the importance of developing a pioneering product discovery and search standard continues to increase every day. The eCommerce startup is aiming to create such a standard, bringing real competition to the world of eCommerce which ultimately will benefit the customer.