Touch Ventures and Ten13 invest in Preezie

Retail experience platform Preezie has raised AU$5.5 million in their Series A funding round. The round was led by Afterpay-backed Touch Ventures and venture capital platform Ten13.

The announcement:

preezie, Australia’s leading retail experience platform dedicated to bringing the in-store shopping experience online has raised AU$5.5 million in their Series A funding round to boost the growth of their team, product and drive international expansion. The round was led by Afterpay-backed Touch Ventures and TEN13.

The Melbourne based start-up believes all brands have an unheard voice and all shoppers deserve to be treated individually, so they built a platform that enables brands to empower shopping experiences through individuality, allowing them to increase conversion rates and customer experiences.

“The preezie platform utilises guided selling, data driven insights and behavioural science to empower over 700,000 individualised shopping experiences every month. preezie has been working with brands like Baby Bunting, Shaver shop, Adore Beauty and Guitar Center, and has seen rapid revenue growth of over 500% and more than doubled the team in the past 12 months,” said Michael Tutek, CEO and co-founder of preezie.

The Melbourne-based start-up caught the attention of Touch Ventures and TEN13 after seeing impressive traction in the retail space following their successful completion of the Skalata Ventures seed program.

“We are incredibly excited to partner with Afterpay-backed Touch Ventures and TEN13. Our mission is to individualise the online shopping experiences. We are currently doing that with just over 100 merchants globally. I cannot be more excited for the opportunity to unlock the ecosystems of our investors and help tens of thousands of merchants bring the in-store shopping experience online” said Michael.

“We were impressed by the team at preezie and their ability to add significant value to merchants through their retail experience platform. We believe there is an opportunity to bring the in-store experience to merchant websites and preezie enables that through a simple integration.” said Hein Vogel, CEO of Touch Ventures.

preezie will use this investment to recruit and secure the best talent in Australia. “We are looking to triple the team over the next 12 months. With roles from developers, product managers, sales and customer success. We are looking for people hungry to grow, learn and be on the ground floor of what we know can be the next Australian unicorn.” Michael said.

The capital raised will also be used to support global expansion. With existing retail partners across the world including Australia, New Zealand, US, UK and Canada, preezie is looking to further scale its footprint with a focus on the US and UK over the next 18 months.

“The expectations of online shoppers have increased over time; they want and expect better digital shopping and increasingly, personalised experiences. preezie is helping e-commerce customers compete globally by raising the bar and delivering on these expectations.” said An Vo, Partner at TEN13.

Source: Preezie media release


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