Blyp has raised $4 million in seed funding for its AI-powered data analytics platform for e-commerce companies to improve performance and increase revenue.
The round was led by World Trade Ventures, Silvertech Ventures, in participation of some business leaders such as Eyal Waldman, CEO and founder of Mellanox; Dovi Frances, founder of Group 11; Dr. Rafi Gidron, one of Chromatis’ founders; and Boaz Schwartz, former CEO of Deutsche Bank Israel.
Founded in 2021 by Matan Elmalam and Jonathan Halbrecht, Blyp enables time- and resource-strapped small and medium businesses (SMBs) selling on Shopify and other online platforms to save time and money.
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The system automatically identifies possibilities and difficulties based on data aggregated and analyzed in real-time from numerous sources, including product, retail, marketing, and customer, and recommends actions.
The system automatically provides clients reports or “blyps” with powerful recommendations to boost conversion rates and overall performance. Along with saving businesses time and resources, Blyp also recognizes negative issues that may affect sales.
“E-commerce merchants are passionate about the products they sell, yet they lack the data expertise needed to compete and grow,” said Matan Elmalam Co-Founder & CEO of Blyp. “We are helping e-commerce companies fill that void by providing a digital full-time Data Analyst, delivering detailed reports and roadmaps to drive revenues. We are excited to continue building our platform geared to the SMB e-commerce community.”
Blyp will be rolling out new connections over the next six months that combine other data sources, including Facebook, Klaviyo, and Google Ads.
Bylp will use the money to expand its operations in the United States and add additional functionality to its platform,