One of the biggest problems in the world of e-commerce is the predicament of shopping cart abandonment: when shoppers aren’t getting to what they want fast enough — whether it’s finding the right item, or paying for it in a quick and easy way — they bounce. That singular problem is driving a wave of technology development to make the experience ever more seamless, and today one of the companies closely involved in that space is announcing some funding on the back of healthy growth.
Constructor, which has built technology that powers search and product discovery tools for e-commerce businesses, has picked up $55 million in a Series A round of funding. Constructor says that it powers “billions” of queries every month, with revenues growing 233% in the last year. Customers it works with include Sephora, Walmart’s Bonobos, Backcountry and many other big names.
The round is being led by Silversmith Capital Partners — which coincidentally, just today, led another round for an e-commerce startup, Zonos.
It is joined by a long list of notable individual investors. They include David Fraga, former president of InVision; Kevin Weil, former head of product at Twitter and Instagram; Jason Finger, …read more
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