London-based all-in-one platform for brands to design and deliver product campaigns, Odore has raised £1 million ($1.35 million) for its seed round led by Blackfinch Ventures. Additional participants in the oversubscribed round include SFC Capital, as well as notable angel investors such as Alister Esam.
The investment will be used to further the startup’s mission of putting customer engagement back into the hands of brands, investing in its platform capabilities, international expansion and expanding the team.
While beauty and grooming e-commerce surged 42% in the UK alone in 2020, the average conversion rate for the e-commerce industry dropped from 2.31% to 2.12% in the same year.
With the increasing complexity around data privacy rules, coupled with a lack of tools for marketers, brands are struggling to create long-term customer value and provide personalised content at scale. Poor marketing personalisation efforts can result in brands losing 38% of their customers, which is leading both legacy and newcomer brands to take notice.
Launched in 2018 by Armaan Mehta and Karan Gupta, the platform provides an all-in-one customer engagement platform that helps brands build personalised experiences and journeys across multiple channels at scale.
The startup integrates with existing systems (such as Klaviyo, Shopify, Salesforce, Digital Sampling, and more), making it easier for brands to build and deploy (with an easy no-code content builder, multichannel marketing automation, A/B testing, and more), as well as offering to monitor, retargeting and retaining (through real-time reporting, segmentation and retargeting).
Armaan Mehta, Co-Founder at Odore, said: “The platform takes customer and brand relationship to a new and exciting era. Personalisation is the future of e-commerce.”
James Brookner, Ventures Director at Blackfinch, said: “Odore’s platform is cleanly designed, offers end-to-end functionality and customers clearly love it. Monthly revenue has grown exponentially since launch, and the team has been successful in signing up some of the best global beauty brands.”
Currently, it has a team of 15 employees with clients including, LVMH, L’Oreal, Naples Soap and Tata Harper