Olapic, a visual commerce platform company, announced that it raised US $5 million in a series A round. Great Longworth Venture Partners and Fung Capital USA led the said financing round. The company's existing investors like Great Oaks and Scout Ventures also participated in the round.
Olapic offers companies' insights into customers' buying behavior. It allows their clients to collect, curate, showcase and measure crowd sourced videos and photos. The company's technology then permits the consumers to create more educated purchase decisions, learn about new products and link up to the brand's community.
John Seung, a partner at Fung Capital, said making the call to invest in the company was easy. "Olapic's proven ability to engage the shoppers and to shape the brand image while enhancing the brands' sales performance is a powerful combination that no e-tailer can do without," said Seung.
Olapic offers a window into what customers do before and after buying a product through its SaaS solutions. Companies like New Balance, Westward Leaning, Desigual, Alex and Ani and Equipment have recently signed on with the company.
According to the company statement, the software application gives retailer the opportunity to amplify customer engagement using the information gathered from intelligent data, as well as cut product returns.
Join the Conversation