Overview

Lily AI uses advanced Computer Vision and Artificial Intelligence to create detailed product data for the retail industry. By accurately tagging product attributes, the platform helps retailers improve recommendations, personalization, and customer relationship management. Clients, including big-box and premium department stores, benefit from increased recommendation accuracy and sales lift, often seeing a 10x return on investment. The goal of Lily AI is to transform retail through superior data enrichment that drives measurable business outcomes.

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Simplify's Take

What believers are saying

• Lily AI's technology leads to a 5% incremental sales lift for clients.
• The company achieved a 12% lift in sell-through rates, enhancing client profitability.
• Lily AI's clients report a 10x return on investment from its services.

What critics are saying

• Emerging AI startups offer similar services at lower costs, threatening market share.
• Data privacy regulations like CCPA may impact data collection and utilization.
• Economic downturns could reduce retail budgets for technology investments, affecting revenue growth.

What makes Lily AI unique

• Lily AI bridges brand-speak and customer-speak, enhancing retail communication.
• The platform uses AI to enrich product data, improving recommendation accuracy by 30%.
• Lily AI's detailed product tagging surpasses manual data generation capabilities.

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Funding

Total Funding

$71.9M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:

New Enterprise Associates

Notable Investors:

New Enterprise Associates

$20,000,000

Series B

Mar 2024

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Below Average

Industry standards

Ind Avg. $35M

$4M

$20M

$30M

$45M

$65M

$100M

View all funding stages