Slyce provides a visual product search platform that lets shoppers snap a smartphone picture or hover over images online to find exact or close product matches. The company has integrated its technology into mobile commerce apps and works with North American retailers and publishers to activate web content for purchasing through images. Led by President Mark Elfenbein, Slyce acquired Hovr.it to incorporate a proprietary image recognition process that delivers direct, purchasable product links. Financially, the company has raised over $27M to date following its latest financing. In the most recent round Slyce raised over $12M. In April 2014 the company announced its intent to list on the TSX Venture Exchange, subject to shareholder and regulatory approvals. Slyce builds image recognition technology that enables point-and-shoot shopping with smartphone cameras. Unlike Amazon Flow, Slyce says it can identify products outside of packaging by relying on unique item attributes rather than OCR or logos. The system combines machine vision that handles roughly 85–90% of the work with a human crowdsourcing element to make final identifications. Slyce is partnering with major retailers and has proof-of-concept pilots with five of the top twenty U.S. retailers by revenue and sales volume. It recently acquired computer vision technology from York University and desktop visual image search startup Hovr.it and is using its current funding to continue hiring and pursue acquisitions. The company has "a decent amount of bank to rely on" and plans to raise a larger round in the next two to three months to accelerate growth. Slyce, based in Calgary, Alberta, provides a visual search platform that lets consumers purchase real-world items by taking a photo with their smartphone. The company is finalizing a consumer-facing app for Android and iPhone, expected in January 2014. It also plans to pursue B2B opportunities by supplying its technology to brands and retailers. Slyce is led by CEO Cameron Chell and recently appointed Mark Elfenbein as Chief Digital Officer. The company’s recent financing activity indicates it is preparing to scale product development and commercial partnerships. Slyce, based in Calgary, Canada, is developing a Social Commerce Point of Interest Purchasing platform led by Founder and CEO Cameron Chell. Its core product allows smartphone users to identify objects at the exact point they see them using video and audio recognition, QR and barcode scanning, and NFC. Once recognized, users can purchase items for shipment or be directed to the nearest retail location. Discovered products can be shared across multiple social platforms, including Slyce's own content-sharing site. The company raised $3.75M in seed funding to continue developing the platform, with backers undisclosed. Slyce plans to release a private Android beta in the coming weeks, followed by Version 1, and is signing up brands and beta testers via its website.

Total raised

$29M

Funding rounds

4

Latest round

Equity

Latest activity

Jun 2014