London-based Upp has raised $10 million in a seed funding round. The company uses AI and ML technologies to help e-commerce retailers optimise ad spend, up product discover, and increase overall sales. The new capital is intended to promote further growth at the startup, including bolstering the team numbers, geographic expansion, and the introduction of automation features.
Upp’s $10 million seed round was provided by Santa Monica, California-based Bonfire Ventures.
Upp’s services are currently available in the UK, the US, and Continental Europe, and the company counts Charles Tyrwhitt, Onbuy, Roman Originals and Nkuku amongst its client base.
According to Upp, their offer has already helped retailers achieve a 52% uplift in Google channel sales in the first 12 months of use.
“The scale and complexity of today’s online retail environment has extended beyond the capability of humans alone and needs the support of powerful AI and machine learning technology,” explained Upp co-founder Ben White. “The Upp platform enables retailers to excel in a competitive landscape, achieve better results around the clock, and align their finance and marketing teams goals seamlessly.”
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