Birdseye raises $3 million for tech that enables retailers to serve each customer's unique preferences

Birdsye, a startup that specialises in the retail and e-commerce artificial intelligence sector, has announced a seed investment of $3 million from Drive Capital.

This follows its previous investment, leading a $500,000 pre-seed round earlier this year. Masha Khusid, a partner from Drive Capital, will be joining Birdseye's board of directors.

Birdseye’s technology completes millions of marketing actions to match shoppers with the products they are most likely to be interested in purchasing at any given time and price. This is powered by an AI algorithm trained on vast amounts of retail transaction data.

Through the firm’s AI, retailers can also match excess inventory with their customers that would be most likely to purchase it, rather than running generic discounts or mass email campaigns.

Birdseye enables large brands and retailers to understand granular consumer insights in real-time and then automates timely email and SMS offers.

The technology also helps retailers detect when they are about to lose a customer and enables them to respond with personalised pricing and product offers to win that customer back.

“Our technology isn't about generic promotions or marketing campaigns; it's about enabling retailers to serve each customer's unique preferences, delivering tailor-made offers that resonate positively. It's a win-win, with shoppers valuing personalised deals and retailers benefiting from increased loyalty and engagement,” says Matt Bogoroch, CEO at Birdseye.

Shardul Frey, CTO at Birdseye, says: “By leveraging advancements in AI, we are improving the sell-through rates of stalling or out-of-season inventory. We’re also helping generate unprecedented customer engagement. Retailers can now automatically understand the unique preferences of millions of customers.”

“With this latest round of funding and ongoing partnership with Drive Capital, we're set to significantly bolster our hiring efforts, attracting the best and brightest to Birdseye. As we grow, our commitment is to emerge as a market leader in the retail industry,” says Adam Bogoroch, Birdseye COO.

“Matt and his team have a unique perspective on how AI can be used to serve the e-commerce market and, as a result, they’re solving merchants’ problems in incredibly innovative ways,” says Drive Capital Partner, Masha Khusid. “We’re thrilled to continue our partnership with Birdseye.”