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About Lily AI
Industries
Data & Analytics
Consumer Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$69.9M
Headquarters
Mountain View, California
Founded
2015
Overview
Lily AI enhances the retail industry by using advanced Computer Vision and Artificial Intelligence to create detailed product data. This enriched data helps retailers improve functions like recommendations, personalization, and customer relationship management. By accurately tagging product attributes such as fabric and fit, Lily AI provides insights that manual data generation cannot achieve. Retailers, including big-box stores and premium department stores, use this data to better understand customer interactions and tailor their services accordingly. The company operates on a subscription model, with potential performance-based pricing linked to improvements in metrics like recommendation accuracy and sales. Clients have reported significant benefits, including a 30% increase in recommendation accuracy and a 10x return on investment. Lily AI's goal is to transform retail through superior data enrichment, leading to better customer experiences and increased sales.
Simplify's Take
What believers are saying
- Lily AI's technology leads to a 5% incremental sales lift for clients.
- The company recently raised $20M to expand internationally and enhance AI solutions.
- Lily AI's platform offers a 10x ROI, boosting client satisfaction and retention.
What critics are saying
- Emerging AI startups may dilute Lily AI's market share.
- International expansion may lead to regulatory challenges and increased compliance costs.
- Over-reliance on key clients poses a risk if they switch to competitors.
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 no-code platform accelerates AI deployment for retailers.
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Funding
Total Funding
$69.9M
Above
Industry Average
Funded Over
4 Rounds
New Enterprise AssociatesIndustry standards
Benefits
Remote Work Options
Company Equity
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 9%2 year growth
↑ 5%Lily AI is honored to be selected as a finalist in the 2024 Modern Retail Awards for the third year in a row.
Lily AI, a leading retail technology platform specializing in AI-driven solutions, has launched its next-generation product attribute platform.
Lily AI is excited to announce that Lily AI has earned a spot on the Inc. 5000 for 2024!
Lily AI closes USD 20M Series B-1 funding.
Loading. Loading...MOUNTAIN VIEW, Calif., March 14, 2024 (GLOBE NEWSWIRE) -- MOUNTAIN VIEW, California — March 11, 2024 — Lily AI , ("Lily" or the "Company"), a retail technology platform specializing in AI solutions for retailers and brands, today announced the closing of a $20,000,000 Series B-Prime financing round led by Conductive Ventures with participation from new investors Counterpart Ventures , Cendana Capital , and Transform Capital , and existing investors Canaan , Sorenson Capital , and NEA. The Lily AI Series B-Prime investment comes 18 months after its initial Series B round; customers have quadrupled during that time resulting from adoption of the Company's core product attribution platform as well as generative AI solutions such as the recently announced content generation product. Raised at a premium to its last financing, Lily AI will use this latest funding round to extend its leadership into international markets, expand its social and eCommerce platform integrations, and accelerate the engineering team's ability to ship enterprise-grade AI solutions across the retail value chain. Total funding to date is now $62 million."There is tremendous momentum in the market and we are seeing increased demand from retailers looking to leverage proven AI to enhance customer experiences and improve business efficiency," said Purva Gupta, Co-founder and Chief Executive Officer, Lily AI. "We've benefitted from visionary and supportive investors from day one and are fortunate to continue that trend with Conductive Ventures leading this latest round
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About Lily AI
Industries
Data & Analytics
Consumer Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$69.9M
Headquarters
Mountain View, California
Founded
2015
Lily AI is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today