Round led by World Trade Ventures, Silvertech Ventures, Eyal Waldman, Dovi Frances, Rafi Gidron and Boaz Schwartz
Blyp, an AI-driven data analytics platform for e-commerce companies has raised $4 million in seed funding. Its service enables online sellers to maximize data insights to increase sales, engagement and performance. Led by World Trade Ventures, Silvertech Ventures, Eyal Waldman, Dovi Frances, Rafi Gidron and Boaz Schwartz, Bylp will use the funding to scale its US operations and add new functionality to its platform.
Read More: SalesTechStar Interview with Saumil Mehta, General Manager: Square Point of Sale
Blyp seamlessly ingests and aggregates multiple product, store, marketing, and customer data sources into a single data warehouse. It constantly analyzes data and sends clients automated reports or “blyps” with powerful recommendations to increase conversion rates and improve overall performance. In addition to saving companies valuable time and resources, Blyp also protects businesses by auto-detecting issues that negatively impact sales, such as technical errors at checkout or on the site.
“E-commerce merchants are passionate about the products they sell, yet they lack the data expertise needed to compete and grow,” said Matan Elmalam Co-Founder & CEO of Blyp. “We are helping e-commerce companies fill that void by providing a digital full-time Data Analyst, delivering detailed reports and roadmaps to drive revenues. We are excited to continue building our platform geared to the SMB e-commerce community.”
Blyp sends clients three types of customized, easy to understand reports – informative, transformative and protective. Segmented to quickly digest and take action, each report is focused on different ways to improve and repair issues in the sales process. Over the next six months, Blyp will be rolling out new integrations that incorporate more data sources, including Facebook, Klaviyo and Google Ads.
Read More: SalesTechStar Interview with Matthew Furneaux, Lead Analyst at Loqate
“Blyp took a complex e-commerce problem and solved it using small blyps,” said Charlie Federman, General Partner, Silvertech Ventures. “Companies are drowning in data from too many dashboards and are desperate for actionable information and guidance. Blyp is giving e-commerce SMBs access to the critical intelligence that was only available to billion-dollar businesses with IT staffs. Matan and the Blyp team are on a mission to help everyday e-commerce players succeed. It’s a huge opportunity and we are thrilled to be part of their mission.”
Available in the Shopify app store, Blyp takes minutes to set up and its client onboarding process quickly integrates into Shopify merchants’ online stores. On average, merchants using Blyp save 20 hours per month on data analysis, and some have seen 30% increases in conversation rates after acting on Bylp’s recommendations.