Observed Signal · Jun 17, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Constructor raises $25M Series B for European expansion
Constructor, an AI-powered product discovery and search platform for enterprise ecommerce companies, announced a $25 million Series B funding round led by Sapphire Ventures, with participation from existing investor Silversmith Capital Partners. The round brings Constructor's valuation to $550 million and total funding to over $85 million. The company plans to use the capital to expand into Europe and enhance its clickstream-based AI technology. Constructor reports strong customer results, including a 16.5% increase in average order value and a 247% increase in revenue per visit. Clients include Sephora, Petco, Birkenstock, The Very Group, home24, Grove Collaborative, and Fisheries Supply. Rajeev Dham of Sapphire Ventures will join the board.
Series B funding for an AI ecommerce search platform is relevant to MarTech but not directly advertising; moderate impact on the AdTech ecosystem.
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Key Takeaways & Evidence Grounding
- Constructor raised $25M in a Series B round led by Sapphire Ventures.
- The round brings Constructor's valuation to $550M and total funding to over $85M.
- Constructor plans to expand into Europe.
- Client results include a 16.5% increase in average order value and a 247% increase in revenue per visit.
- Rajeev Dham of Sapphire Ventures will join Constructor's board.
Connected Companies & Entities
3 Entities mapped“Client brands include Sephora, Petco, Birkenstock, The Very Group, home24, Grove Collaborative and Fisheries Supply....”
“Client brands include Sephora, Petco, Birkenstock, The Very Group, home24, Grove Collaborative and Fisheries Supply....”
“participation from existing investor Silversmith Capital Partners....”
Ontology Mapping & Concepts
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