Klevu launched Discovery Suite, an end-to-end AI-powered search and discovery solution that captures shoppers’ intent across the entire online shopping experience, not just keyword queries. The product leverages machine learning and natural language processing to personalize search, recommendations and discovery touchpoints, and the company says it can increase search-led conversion by up to 52%. Discovery Suite integrates with major commerce platforms including Shopify, Magento and BigCommerce and can be configured in hours to weeks. Klevu reports more than 3,000 global brands use its technology, including Puma, Toys “R” Us/Babies “R” Us, Yamaha, Callaway, Made.com and ColourPop Cosmetics. The platform provides data insights to inform merchandising, product development and omnichannel integrations with ERP, email marketing and POS systems. Klevu will use the new funding to accelerate global expansion and further develop its AI-driven products to drive data-driven business success for online retailers. Klevu builds an NLP-based search solution that leverages merchants' full and updated product catalogs to train its algorithms and improve search relevance over time. The platform is focused on automating search and creating efficient shopping experiences for mid-market online merchants. Founders Nilay, Niraj, Jyrki and Jussi (all Ph.D.s) lead a 55-person team spread across four continents, speaking nine languages. The company describes itself as a born-global Finnish startup, with over 90% of its business outside Finland and roughly 40% from the USA. Klevu reports doubling its revenue every year. The company plans further commercial capability enhancements, new recruitments and aims to build a fully-automated platform and rapid global scale-up. Klevu is a Helsinki-based self-learning search platform for online stores. It offers natural language search to enrich the shopping experience and boost search-led conversions to sales. The platform serves clients in Europe, the US and India. Klevu raised €250k in funding. Backers included Inventure, Finnish seed investor and accelerator KoppiCatch, and several Finnish and Russian angel investors. The company said it will use the funds to accelerate growth and continue development of the product.

Total raised

$18M

Funding rounds

3

Latest round

Series A

Latest activity

Apr 2021