Founded in 2019, Paris-based DataHawk has created a data analysis platform to help e-merchants grow on Amazon.
The startup has now raised €1.2 million from Axeleo Capital and Business Angels, having just launched its product after two years of R&D.
“Our product allows the collection of several hundred thousand data points, such as price changes, for products and for research topics,” said Othmane Sghir, CEO and co-founder.
To do this, Datahawk has developed an algorithm capable of collecting and analyzing more than 40,000 words daily on more than 2.6 million products. The young company has also leveraged its visualization platform through dashboards and dynamic reports powered by millions of data.
“Just as it is on Google, it’s essential to be referenced in the first search results on Amazon,” added Sghir.
In addition to monitoring, the tool also helps sellers to optimize their performance, allowing them to compare themselves with the competition and understand the impact of different events on their performance.
“Our software makes it possible to carry out an A/B Test on these events to understand their impact on their organic performances,” explained Sghir.
The product is aimed at e-retailers in Europe and the US generating an average annual business volume of one million dollars or euros, with a minimum of 10 products on Amazon, as independent brands or resellers. The startup is also developing a white label solution for agencies. In less than a year of marketing, Datahawk has already convinced 130 customers to sign up for its service, including brands like PharmaPacks, Pfizer, and L’Oreal.
With the funds raised, the company plans to invest in marketing and communication to accelerate its development, targeting 1,000 paying subscribers by 2020. Datahawk also plans to strengthen its presence in Europe, which currently represents less than 20% of its clientele, and to expand its team.
