Enterprise SaaS startup OnlineSales.ai has announced its pre-Series B round, with participation from investors such as IvyCap Ventures, Core91 VC, Vivek Bhargava, Samrat Zaveri, Ramakant Sharma, Saurabh Dangwal, and more.
Founded in late-2017 by Ashish Mehta, San Francisco-headquartered OnlineSales.ai claims to enable a technology-led marketing ecosystem for online aggregators and multi-outlet brands. OnlineSales.ai’s tools are natively integrated into a white-label format within the client’s platforms, unlocking a suite of apps, with solutions such as sponsored product ads, sponsored display ads, extended network ads, video listings, SKU (stock keeping unit) analytics and machine learning-led optimal pricing discovery app, among other things.
“We believe the offerings from OnlineSales.ai are extremely unique, global in scale and omnichannel in nature which would democratize monetisation capabilities of marketplaces, aggregators and offline brands,” said Ashish Wadhwani, Managing Partner, IvyCap Ventures.
The company claims to have enterprise clients across India, South-east Asia, the Middle East, and Africa and says that the new funds would help it double down on the $180 Bn co-op marketing industry globally.
“With several case studies across retail, automotive, CPG, and banking verticals; this newly infused capital will help us expand multi-fold in the international markets more aggressively. Looking forward to working with the brilliant team at OnlineSales.ai to amplify our traction in the $180 Bn co-op marketing segment globally”, said Ashish Mehta, CEO at OnlineSales.ai.
OnlineSales.ai counts prominent Indian companies such as Swiggy, Paytm Mall, Shop101 and Shopmatic as its clients.
With the Indian ecommerce industry poised to grow to $200 Bn by 2026, etailers are increasingly turning to AI and machine learning and other emerging technologies to drive their marketing strategies. Companies like OnlineSales.ai, which offer such services to ecommerce players, realise that a retailer’s online marketplace has several touchpoints, a lot of them in the product catalogue for various categories. From these, companies like OnlineSales.ai’s AI-driven platforms mine billions of data points, which serve as indicators for demand velocity, user psychographics & funnel analytics.