Aqurate, an AI-powered SaaS platform that support eCommerce companies using their data to grow, plans to attract an investment up to €500,000, part of which will be raised through tech startup investment platform SeedBlink. The listing takes place today, November 23rd.
Aqurate has already raised €230,000 and the lead investor is Growceanu with an amount of €170,000. The company is valued at €4 million.
The funding will be used for team growth and international development over the next two years.
Aqurate was co-founded in 2019 by Vlad Marincaș, Tudor Goicea, Lisardo Erman and Raul Mazilu.
Initially, it was launched as a Data Science and Machine Learning consultancy service provider and has successfully delivered projects for clients such as Imobiliare.ro, Lensa or HSNF in the UK.
Based on experience and demand for the same type of solutions, the company launched in June 2022 the Aqurate platform, which targets e-commerce customers.
Aqurate customers include Cupio, Lifebox, NeaKaisa, Dasha, BabyNeeds, HSNF.
“Since our launch in June 2022 we are seeing a very good level of adoption, which gives us confidence that we are on the right track to creating relevant solutions for our customers. This funding round will help us further develop new products and expand internationally”, said Vlad Marincaș, CEO & co-founder Aqurate.
Aqurate offers three modules: an analytics module – which allows visualization of the most important online store performance indicators, a personalized product recommendation module and a customer behavioral segmentation solution.
“Aqurate has the expertise of a senior team and an excellent track record to deliver exactly what e-commerces need: digital tools that help them convert and retain customers”, Dan Oros, Head of Marketing Google and YouTube Romania.
“The need for tools like Aquarate is critical for the average ecommerce store, helping them to increase their buying power, conversion and retention to stay competitive. The platform provides centralized and accurate data in a clear and easy-to-use tool which is essential for any specialist working in e-commerce,” said Andrei Dudoiu, Managing Partner SeedBlink.
Aqurate Insights allows the visualization of all the information related to the online store in an intuitive dashboard that helps the merchant understand what to invest in next. It monitors key metrics such as a customer’s cost of acquisition, return on promotions and total customer value.
Aqurate Recommendations enables product recommendations based on user interactions with the store, delivered to the website by listing similar and complementary products on different pages (detail page, cart, category, etc.) or through other channels such as email, app, pop-up, etc.
Aqurate Segmentation, the third product, helps to improve retention by segmenting customer behaviour for better communication.