Key Takeaways
- • FindMine closed a new venture capital round led by XSeed Capital and Underscore VC, bringing total capital raised to $9.9 million according to the company's Business Wire announcement.
- • The New York-based company, which describes itself as a leader in AI-powered dynamic content creation for brands, will use the proceeds to accelerate go-to-market activities and advance its content engine.
- • The round supplements a previous seed round, and FindMine plans to expand its go-to-market team and develop its headless API offering.
- • FindMine's CEO Michelle Bacharach positions the company as solving the content bottleneck in personalization and customer data platform markets.
Summary
FindMine, a New York-headquartered, venture-backed company providing AI-powered dynamic content creation for brands, announced that it has closed a new venture capital funding round led by XSeed Capital and Underscore VC, according to a Business Wire release. The investment supplements a previous seed round and brings total capital invested in the company to $9.9 million.
The company said the proceeds will be used to accelerate go-to-market activities and advance development of its AI-powered content engine. FindMine states that its platform, driven by predictive intelligence and merchant sales data, helps brands increase revenue and inventory performance across e-commerce, email, advertising and social media, and in-store applications such as kiosks and sales associate platforms.
CEO Michelle Bacharach said the current personalization process is constrained by content production rather than data, arguing that one-to-one marketing does not scale because marketing teams cannot create bespoke editorial content for every segment. Bacharach said the funding will allow the company to continue growing its ability to produce shoppable editorial content at scale.
Planned product development includes machine learning enhancements using new datasets such as inventory location, aimed at reducing split-shipments, and further development of its "headless" offering, which injects FindMine content into any customer experience via API. The company will also expand its go-to-market team.
Damon Cronkey, partner at XSeed Capital, said FindMine has demonstrated an ability to solve the challenge of producing large volumes of relevant online content. Underscore VC Partner Lily Lyman cited Bacharach's combination of e-commerce business building and AI expertise. FindMine lists Mitchell Gold + Bob Williams, Rogers, adidas, Destination XL and Perry Ellis among its clients, and is a member of the LVMH Maison des Startups.
The company said the proceeds will be used to accelerate go-to-market activities and advance development of its AI-powered content engine. FindMine states that its platform, driven by predictive intelligence and merchant sales data, helps brands increase revenue and inventory performance across e-commerce, email, advertising and social media, and in-store applications such as kiosks and sales associate platforms.
CEO Michelle Bacharach said the current personalization process is constrained by content production rather than data, arguing that one-to-one marketing does not scale because marketing teams cannot create bespoke editorial content for every segment. Bacharach said the funding will allow the company to continue growing its ability to produce shoppable editorial content at scale.
Planned product development includes machine learning enhancements using new datasets such as inventory location, aimed at reducing split-shipments, and further development of its "headless" offering, which injects FindMine content into any customer experience via API. The company will also expand its go-to-market team.
Damon Cronkey, partner at XSeed Capital, said FindMine has demonstrated an ability to solve the challenge of producing large volumes of relevant online content. Underscore VC Partner Lily Lyman cited Bacharach's combination of e-commerce business building and AI expertise. FindMine lists Mitchell Gold + Bob Williams, Rogers, adidas, Destination XL and Perry Ellis among its clients, and is a member of the LVMH Maison des Startups.
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