Vue.ai, a platform designed to provide retailers with AI-driven and computer vision-based styling recommendations, automated product tagging, shoppable content and visual search capabilities, has raised $17 million in a Series B funding round led by Falcon Edge Capital. The new round brings the company’s total capital raised to $27.5 million.
Already generating a fourfold annual revenue increase in 2018, Vue.ai will use the funds to grow its international team and scale its existing consumer base, according to a company statement. The platform is designed to automate critical functions across departments that are heavily dependent on human intuition, unifying data about products, people and processes. Global retailers such as Macy’s, thredUP, Argentina-based Mercadolibre and India-based Tata presently use Vue.ai.
Vue.ai combines seven different products to offer retailers a unified system used as a “neural network” for decision-making, leveraging image recognition and data science. By centralizing data, the platform is designed to digitally map a retail product’s DNA, then translate product information into language that teams can understand.
“With more than two million unique items in inventory at any given moment, we are constantly innovating on ways to help each customer locate the perfect needle-in-a-haystack item,” said Chris Homer, Co-Founder and CTO of thredUP in a statement. “Vue.ai’s AI stylist allows us to personalize the end-to-end customer experience. AI algorithms take into account each individual’s visual style preferences, brand affinities, price sensitivity and more, creating a significant impact on multiple touch points in the thredUP customer’s journey — whether you’re browsing thredUP, reading an email or opening your custom-curated Goody Box.”