Tel Aviv-based product discovery company has announced that it has raised $30 million in its latest round of funding. The latest funding round was led by Viola Ventures and LG Technology Ventures, with participation from La Maison, MizMaa Ventures, Kreos Capital, and existing investors Magma, Naver Corporation, Commerce Ventures, Storm Ventures, Axess Ventures, Remagine Media Ventures, and KDC Media Fund.
The Series C funding round comes on the heels of the Series B round that happened in September last year. The latest funding brings total funding up to $71 million. Syte’s technology has been helping retailers and consumers alike to ease the shopping experience and make it enjoyable.
The fresh injection of money will give Syte an incentive to further develop its one of a kind product discovery platform. Its platform enables visual search, augmented site search, and hyper-personalization — by developing and acquiring additional technologies that connect shoppers with their ideal products using all the senses: visual, text, voice, and more. Additionally, the funding will help Syte to explore expansion into North America in 2021.
“As this new funding propels us forward, I am incredibly grateful for our team of talented and dedicated Syters, and of course, for our customers, the brands and retailers who see clearly into the future of eCommerce and customer experience — we are thrilled to be on this journey with you!” Ofer Fryman, CEO and Co-Founder of Syte, wrote on the company blog.
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