E-commerce marketplaces continue to grow as a result of various factors, such as convenience, extensive product selection, competitive pricing, and improved logistics and delivery services.
There are over 150 marketplaces and over 2.4M sellers investing more in their online presence and adapting their strategies to cater to the growing e-commerce market.
With significantly different processes and guidelines at e-commerce marketplaces (Amazon, Walmart, and others), sellers and brands spend a lot of time in competitive research, monitoring, optimization of their listings, and learning platform-specific marketing tactics. This is inefficient and time-consuming for sellers, impacting their ROl on marketing budgets allocated to e-commerce channels.
We at z21 Ventures are pleased to announce our investment in Optiwise, an Al-driven eCommerce channel optimization platform revolutionizing the way brands and sellers enhance their online visibility, traffic, and conversions. Their innovative solution utilizes Generative Al to automate the optimization of listing content, price, and ad campaigns, making the process 100 times faster and doubling the revenue for the same marketing budget. They have over 250 brands and sellers using their platform and monitor over a million products daily, tracking at $1M in ARR. They recently launched two new features that have gained significant traction – 1) Chat GPT for eCommerce: for Walmart sellers to optimize their time by 100X and 2) Rich Media for Walmart so customers can leverage Amazon A+ content and create even more powerful content. Given their market traction and continued innovation, Optiwise is looking to cover the top 5 marketplaces in the US. Optiwise boasts an impressive customer acquisition cost, at only 33% of the first year’s subscription and less than 10% customer churn.