Online Shopping Platform Buywith Already Bagged Walmart, Now Grabs Seed Round
05/25/22, 12:03 PM
Industry
software
Round Type
seed
Buywith completed a $9.5 million seed round, and while that may be the kind of funding a younger company takes, the livestream shopping platform is actually a “veteran” in this emerging way of shopping.
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Additional Info
Buywith completed a $9.5 million seed round, and while that may be the kind of funding a younger company takes, the livestream shopping platform is actually a “veteran” in this emerging way of shopping. The company also has integration capabilities now and is working with brands like MAC Cosmetics and is launching new partnerships with Steve Madden and Charlotte Tilbury. When buywith initially started, the company was running pilots with four employees, Ronen Almagor recalls. The company, now with 20 employees, is delivering an eight-time increase in e-commerce conversions, an increase of around 40% session engagement rate, and an average of 10 times return on investment, Ronen Almagor said. The company also launched in the U.S. in 2021 and is in the process of opening offices in the U.K. to expand its European market presence. Among that list and more, the company touts having 18 female investors involved from Israel, the U.S. and Europe.“Live commerce is a key to increasing e-commerce conversion rates,” Caplan said in a statement. “Approximately 30% of shoppers walk out of a physical retailer having bought something, while today’s e-commerce results in about 4% conversion rates globally. In fact, that is how buywith started out with Walmart, enabling the retail giant to get up and running with the platform and go live immediately, Ronen Almagor said.