Bloom, a New York-based product photo performance engine, announced that it has raised $1.1M in a Seed funding round to launch its AI-based platform that measures the performance of e-commerce brands.
The round saw participation from Inovia Capital and AIX Ventures, a new AI-focused investment firm featuring Richard Socher of MetaMind, Pieter Abbeel of Covariant, Chris Manning of Stanford AI Lab, and Anthony Goldbloom of Kaggle).
Other investors, including Forum Ventures, OneValley Investments, and The Y Startup Index, participated. The latest capital brings Bloom’s total funding to about $1.3M.
The funding will enable Bloom to accelerate the product development and bring its solutions to more merchants.
Currently, e-Commerce accounts for $4.93T worldwide and is expected to grow to $7.39T by 2025, and mobile commerce purchases account for 72.9% of all online purchases.
Help drive more sales
Founded by Aarlo Stone Fish, and Sam Dundas, Bloom uses generative AI to improve customers’ online shopping experiences and drive more sales. The company helps its partners get more sales with its mobile-optimised product photo engine.
The company tracks a consumer’s on-site behaviors such as clicks, zooms, swipes, and bounces and then compiles that behavioral data to deliver pixel-by-pixel the most compelling and personalised images possible.
The result is that consumers spend more time on the page and eventually purchase.
As per the company’s claims, e-commerce sites integrating Bloom have seen a boost in their conversion rates ranging between 5-14% without the merchant lifting a finger.
By integrating Bloom into their sites, merchants, especially those with $1M+ in sales, can enhance the online shopping experience with a done-for-you AI-driven solution that closes more sales without investing additional precious time or human resources into the process.
Initially, the company came to market with a generative AI product capable of creating photo-realistic fashion models indistinguishable from real-life people.
“We’re building the engine to power billions of shopper sessions with 100% personalized content,” says Dundas. “Bloom is positioned to become an essential layer to the e-commerce tech stack.”
After launching Bloom’s beta version and collecting feedback from 200 e-commerce merchants, the co-founders discovered that brands don’t understand how their existing assets perform. As a result, they wanted to find a solution to this problem that delivered a clear ROI. Thus, Bloom was born.
Aarlo Stone Fish is a Yale alumnus with 20 years of experience as a software engineer and an AI expert, and Sam Dundasis a lifelong entrepreneur and product builder.
“We spoke to over 200 e-commerce brands over eight months and just asked them if they had any metrics on the photos on their websites, and the resounding answer was no,” says Dundas.
Why Bloom is unique?
Dundas claims that a lot of enterprise-grade websites optimisation tools are available on the market, however, many use A/B testing, which requires several integrations on the merchant part to set up.
“Whereas Bloom, it’s just automatic,” said Dundas to Betakit. “It works well with any other optimization app that using because all Bloom does is change around who sees what image.”
At present, the company is targeting brands doing over $1M in sales annually. As its algorithm becomes stronger, Boom will be able to help smaller merchants.
AIX Ventures is a new AI-focused venture firm.
“Showing the same product photos to every shopper is medieval,” said Shaun Johnson, founding partner at AIX Ventures and seed round investor. “A shopper should see a photo that is generated to meet their specific needs, including the model type and environment. Bloom is this dynamic photo solution that is taking e-commerce photos into the future.”