Lily AI Secures $20M Series B-1 Funding for Global Expansion
March 17, 2024, 1:58 pm
Location: United States, California, Mountain View
Employees: 51-200
Founded date: 2015
Total raised: $82.5M
Lily AI, a California-based retail technology platform, has successfully closed a $20 million Series B-1 funding round led by Conductive Ventures. This latest round brings the company's total funding to $62 million, with new investors like Counterpart Ventures, Cendana Capital, and Transform Capital joining in, alongside existing supporters Canaan, Sorenson Capital, and NEA.
CEO Purva Gupta expressed excitement about the market momentum and increased demand for AI solutions in the retail sector. Lily AI aims to use this funding to expand into international markets, enhance social and eCommerce platform integrations, and bolster its engineering team to deliver cutting-edge AI solutions across the retail value chain.
The company, founded by women, specializes in bridging the gap between merchant and customer language using advanced technologies like generative AI, computer vision, natural language processing, and machine learning. By focusing on enhancing the shopping experience through improved product attribution, descriptions, and discovery, Lily AI has attracted prominent clients such as Macy's, Bloomingdale's, and JCrew.
With a strong focus on customer-centric solutions, Lily AI is poised to revolutionize the retail industry by infusing consumer language into various applications and expanding its reach into new territories like the UK. The company's proprietary training data and innovative approach to data utilization set it apart in a rapidly evolving market landscape.
As Lily AI continues to push the boundaries of AI technology in retail, its latest funding round signals a significant step towards achieving its vision of empowering brands and merchants with innovative solutions that resonate with modern consumers.
CEO Purva Gupta expressed excitement about the market momentum and increased demand for AI solutions in the retail sector. Lily AI aims to use this funding to expand into international markets, enhance social and eCommerce platform integrations, and bolster its engineering team to deliver cutting-edge AI solutions across the retail value chain.
The company, founded by women, specializes in bridging the gap between merchant and customer language using advanced technologies like generative AI, computer vision, natural language processing, and machine learning. By focusing on enhancing the shopping experience through improved product attribution, descriptions, and discovery, Lily AI has attracted prominent clients such as Macy's, Bloomingdale's, and JCrew.
With a strong focus on customer-centric solutions, Lily AI is poised to revolutionize the retail industry by infusing consumer language into various applications and expanding its reach into new territories like the UK. The company's proprietary training data and innovative approach to data utilization set it apart in a rapidly evolving market landscape.
As Lily AI continues to push the boundaries of AI technology in retail, its latest funding round signals a significant step towards achieving its vision of empowering brands and merchants with innovative solutions that resonate with modern consumers.