E-Commerce Platform Granify Lands $7 Million Series A Funding
Peter Thiel's Valar Ventures leads funding of Edmonton-based e-commerce conversion platform.
Granify, an e-commerce conversion platform based in Edmonton, Alberta, has announced a U.S. Series A funding round of $7 million. The funding is led by Valar Ventures, a New York-based venture firm co-founded by Peter Thiel.
The company offers an automated e-commerce revenue optimization product that works while shoppers are still visiting a client’s e-commerce website. Here’s how the funding news release describes what Granify does:
Granify has developed revolutionary technology that automatically converts more online shoppers by predicting, in real time, which shoppers aren’t going to purchase and providing contextual stimuli to help overcome the objection before the shopper leaves the website. The platform leverages the intelligence Granify has accumulated by analyzing over two trillion behavioral data points each month.
The company says its has clients in 19 countries and is already profitable. Existing investors iNovia Capital, Social Starts and other prominent angel investors also participated in the funding round.