Octane AI is a fancy named company specialized in democratizing ecommerce software; more precisely, Octane AI allows merchants on Shopify to operate by collecting zero party data, i.e. it’s basically a zero-party data marketing platform.
A few days ago, Octane AI announced that it raised $5 million in capital courtesy of the investor behind Masterclass and Thumbtack, Javelin Venture Partners respectively, along with Bullpen Capital, General Catalyst and Boost VC.
Alex Gurevitch was appointed Board Observer, and another Alex Gurevitch (yeah, it sounds surreal) is the new VP of finance and operations, while Vincent Silvey is now the company’s first VP of Engineering.
So, what Octane AI does for Shopify merchants is basically enabling Amazon level conversion rates, while allowing them to maintain independence. More precisely, Octane AI helps marketers stay away from declining conversion rates via specialized software tools that collect zero-party data and allow for a personalized customer journey across owned and paid marketing channels, boosting website conversion rates and generating over $73 million in revenue for small and medium-sized Shopify stores around the globe.
The $5 million in financing will enable Octane AI to continue with product development, growth and innovation, which means thousands more of Shopify merchants will be able to collect high-value data directly from shoppers via Shop Quiz and Conversational Pop-ups, and leverage the data across various marketing channels, such as SMS, ads, email and Facebook messenger, for a better customer experience with personalization.