TLDR:
- Lily AI, a retail technology platform specializing in AI solutions, raised $20M in Series B-1 funding.
- The funding round was led by Conductive Ventures and included participation from new and existing investors.
Lily AI, a Mountain View, CA-based retail technology platform specializing in AI solutions for retailers and brands, has closed a $20M Series B-1 funding round. This brings the company’s total funding to $62M. The round was led by Conductive Ventures, with participation from new investors Counterpart Ventures, Cendana Capital, and Transform Capital, as well as existing investors Canaan, Sorenson Capital, and NEA.
The funding will be used to extend Lily AI’s leadership into international markets, expand its social and eCommerce platform integrations, and accelerate the engineering team’s ability to ship enterprise-grade AI solutions across the retail value chain. The company, founded and led by CEO Purva Gupta, aims to empower retailers and brands by bridging the gap between merchant-speak and customer-speak.
Lily AI leverages generative AI, computer vision, natural language processing, machine, and deep learning to enhance shopping experiences by injecting human-centered language throughout the retail ecosystem. The platform is interoperable with eCommerce, marketplace, and product management platforms, optimizing existing technology investments to deliver revenue lift through improved product attribution and descriptions, enhanced discovery, and higher conversion rates.
Lily AI serves a range of retailers and brands, including Macy’s, Bloomingdale’s, JCrew, ThredUP, Abercrombie & Fitch, ALC, Living Spaces, Arhaus, and others. With this latest funding round, the company is well-positioned to continue its growth and innovation in the retail AI space.
