Malachyte, a behavior intelligence company, has announced the close of a $10 million seed funding round. The round was co-led by Bessemer Venture Partners and Gradient Ventures, with participation from Harpoon Ventures. The funding aims to bring advanced recommendation technology to retailers and e-commerce brands. This new capital will help tackle challenges in consumer e-commerce conversion rates.
Company Information
Company
Malachyte
Location
New York, New York, United States
About
Malachyte is a behavior intelligence company co-founded by a team from Spotify, specializing in advanced personalization for e-commerce. Their technology leverages behavior analysis to optimize the online shopping experience for every visitor, enhancing conversion rates for retailers. The company aims to address the challenges of static website experiences in the face of rising customer acquisition costs. Malachyte's solutions are designed to read shopper intent and adapt in real-time, making online commerce more effective.
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