Rep AI bags $8.2 million in funding for development of company’s AI powered online retail sales tool

Rep AI Technologies has raised $8.2 million in funding. Led by Osage Venture Partners (OVP), the investment will fuel further development of the company’s e-commerce sales tool.

Built leveraging a proprietary combination of behavioral AI and large language models (LLMs), the tool enables merchants to provide personalised sales assistance at scale. It can be integrated with existing tech stacks.

OVP says that it selected Rep AI for its strong market traction and compelling value proposition.

Over 500 merchants worldwide are using its solution. Joining OVP in this round are Flashpoint Ventures and Oryzn Capital.

“Rep AI’s innovative use of cutting-edge AI to provide personalised sales assistance at scale has the potential to redefine customer experiences and boost conversion rates across the e-commerce industry," says Sean Dowling, Partner at OVP.

“We are excited to lead this round and look forward to supporting Rep’s continued growth and innovation."

“While technology has changed immensely in the past 15 years, e-commerce has largely stayed the same – and so has its historically poor conversion rates. Rep AI is the evolution the industry has so desperately needed," comments Yoav Oz, Co-founder and CEO at Rep AI.

“Unobtrusive and completely customisable to match each merchant’s product catalog and brand personality, it brings any sized business the benefits of a highly skilled sales expert that also happens to be infinitely scalable."

"Rep AI brings a refreshing new approach to online sales, and it has already begun to realise its great potential," says Lior Segal, Partner at Oryzn Capital.

"The company's technology enables merchants to provide personalised sales assistance at scale, and we anticipate this solution will become a new standard in the market in the near future."

"Rep AI fills the need to consult with a professional while purchasing online. Especially for first-time shoppers at any given site, consumers want more information and assurance before making a buying decision," says Noam Wolf, Partner at Flashpoint Venture Capital.

"In that perspective, e-commerce today is broken, leading shoppers to experience distrust and anxiety. Rep AI solves this problem, assisting both shoppers and e-commerce businesses to have a better experience."

2024 RTIH INNOVATION AWARDS

AI is a key focus area for the sixth edition of the RTIH Innovation Awards, which is now open for entries.

The awards, sponsored by CADS, 3D Cloud, Retail Technology Show 2025, and Business France, celebrate global tech innovation in a fast moving omnichannel world.

It’s free to enter and you can do so across multiple categories.

Key 2024 dates

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.