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Zoovu Lands $169M To Drive Online Product Discovery Experiences

Jun 15, 2022•about 3 years ago

Amount Raised

$169 Million

Boston

Description

The competition in ecommerce has become fiercer as the pandemic drives shoppers online. At the same time, customers have grown to expect better experiences. According to helpdesk software vendor HiverHQ, 32% of consumers want customer service to be both more responsive and empathetic. Being a service software vendor, HiverHQ isn’t exactly a neutral party, but it’s one data point among many that operations — particularly customer retention — are more difficult now compared to the start of the pandemic.

Company Information

Company

Zoovu

Location

Boston, Massachusetts, United States

About

But Mullen argues that the platform in many ways anticipated the digital transformations countless companies have undergone starting in 2020. Using this information, the platform can automatically adjust different flows, including configurators, in real time to optimize for conversions and other business objectives. Zoovu competes on many different fronts, but the company sees Coveo, Lucidworks, and Algolia as its chief rivals. Zoovu was founded two years before the pandemic began, in 2018. RMG reports that 12% of senior merchants have “no plans” to adopt AI as of 2021, due to a lack of expertise to manage a pilot, high costs, unorganized data, and a lack of understanding about the benefits of AI.KitchenAid used Zoovu to create a configuration tool on its website. But Zoovu received a huge vote of confidence today with the closure of a $169 million funding round led by FTV Capital, which brings the company’s total raised to more than $200 million. Zoovu now has over 2,500 customers and that over 10 million people interact with the platform daily.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech