Tailored.to, the personalised shopping assistant that powers personalised advertising, today announced that it has closed the last tranche of a $900k seed investment round. Investors include Amadeus Capital, Ascension Ventures and several angel investors. The fresh capital will be used to rollout more publisher partners and deliver a Personalised Marketing Platform for advertisers.
The London-based company was founded in 2015. Tailored’s personalised product recommendation technology is placed on a publisher’s web page alongside relevant editorial content. It allows users to instantly find the right product for their individual needs. Early user engagement data suggests Tailored can deliver a 10-fold improvement over other online marketing channels.
Tailored’s product matching is powered by the entire wisdom of the web, using a vast bespoke database and an AI powered recommendation engine. The technology processes 40m pieces of product, review and price insight from the web daily. Tailored’s initial 20 technology focused product categories is growing weekly, boasting 300 brands, 6000 products and most major retailers are on board.
The startup is initially tailoring a wide range of consumer electronics products (eg fitness and audio gadgets, hair and beauty devices, drones and kitchen gadgets) where a research and buying process can take days or weeks.
Tailored Co-founder Martin Bailie commented: “We are delighted to close this investment which will allow us to deliver on our mission to eradicate boring product search and power 100% personalised, GDPR compliant, marketing for brands. We’re taking our personalised shopping assistant to many more publishers over the coming months and the engagement data we’re getting significantly exceeds our forecasts. It proves the business can scale internationally.”
Tailored.to aims to solve product search for its users. In research conducted by Tailored, 60% of 1500 online shoppers claimed to dislike current product search options, within which 29% were very annoyed by it or found it ‘tedious’. 20% were neutral. Only 7% enjoyed it. The London-based company set out to change that.