During the pandemic, retailers were forced to embrace e-commerce. But some found that they struggled to maintain customer loyalty as consumer expectations changed and purchasing patterns shifted. As a result of formidable competition like Amazon, they discovered, customers have low patience for sites that don’t present them with what they want. According to research from the Baymard Institute, for every 100 potential customers, 70 will leave without purchasing.
That’s why Purva Gupta launched Lily AI, an AI-powered platform that connects a retailer’s or brand’s shoppers with products they might be looking to buy. Co-founded by Sowmiya Narayanan, Lily provides algorithms designed to power web store components like search engines and product discovery carousels.
Lily today announced that it raised $25 million in a Series B fund …
