Online seller profiling startup eRated, today announced that it has closed a $1.7 million seed round led by Spinach Angels. Also participating in the round are Techstars London and leading UK angel investors.
With the fresh capital, eRated will accelerate delivery of its online profiling solution for online marketplace users, establishing a unified, holistic user profile comprised of validated web data from hundreds of siloed repositories.
eRated’s team are graduates of Israel’s Zell center for entrepreneurship. The company, which was founded in the fourth quarter of 2013, is based in Tel Aviv and London.
The problem eRated aims to solve: Even though 90% of online sellers are active on multiple platforms, customers and marketplaces are blind to the seller’s history on other sites. As a result, customers are hesitant to transact, sellers lose sales opportunities and online marketplace growth is stunted – as sellers need to reestablish their selling history, ratings and credentials for each new platform.
eRated’s solution enables marketplaces and classifieds to leverage existing web profiles, building their online businesses faster and more profitably. To date, eRated profile more online sellers by evaluating web-wide parameters like their sales performance, customer satisfaction (reviews & ratings) and their social graph. The solution cuts out inefficiencies onboarding and verifying new sellers, and provides unparalleled abilities to monitor and optimize sellers’ performance through external data. According to the young companny, eRated’s universal profiling has helped 17 online marketplaces sellers boost sales an average of 56% per profile – including global marketplaces such as TripDa.
eRated creates a holistic online seller profile by importing scattered seller details, integrating them and presenting a unified, weighted, validated profile.