Danish e-commerce personalization platform Relewise, has successfully raised €800k in a pre-seed funding round from early-stage VC Founderment, as well as well-known e-commerce entrepreneurs Mikkel Salling, Jesper Hvejsel and Stefan Rosenlund.
The fresh capital will serve to expand the platform to new markets and help e-commerce businesses increase average basket size and retention by creating more personalized user experiences.
Relewise has developed a technology, helping e-commerce businesses create better and more personalized online user experience. After successful partnerships with 70+ of Denmark’s top e-commerce enterprises, such as Søstrene Grene, CHANGE Lingerie, and Stark, they have now secured €800,000 to propel their business into new markets.
“In the highly competitive e-commerce market, businesses need to differentiate in order to establish a connection with consumers. By personalizing the user experience, the consumers not only buy more but also return more often. With our experienced group of investors supporting us, we’re now ready to expand and help businesses outside of Denmark,” said co-founder and CEO Brian Holmgård Kristensen.
By analyzing and adapting to real-time user behavior on webshops such as unique interests and actions, the Relewise platform automatically sorts and recommends the most relevant products to the user. This action is done in less than two milliseconds, meaning the user quickly finds what they’re searching for, resulting in an enhanced user experience.
While Relewise’s platform has primarily been used by Danish webshops thus far, they’re now set to expand their presence to Scandinavia, the Netherlands, and Germany.
“We firmly believe we can make a big difference for e-commerce businesses worldwide because our platform automatically learns from consumer behavior and quickly adapts to the behavior it encounters in different markets,” added Kristensen.
In addition to Brian Holmgård Kristensen, Relewise was co-founded in 2020 by Sune Hansen and Ronnie Balle, all of whom are experienced e-commerce consultants. Their Relewise journey, which today boasts a team of 14 employees.
According to the co-founders, after years of working in e-commerce, they’ve witnessed the significant impact that creating a personalized and memorable user experience can have on customer retention and growth. In that sense, they consider that consumers will develop a sense that the brands better understands them, fostering a more loyal customer relationship that ultimately helps businesses grow.
