Releva raises $870K for its AI marketing automation platform for e-commerce growth
Summary
The company plans to use the investment to grow its team, further streamline the development of its platform, and aggressively expand on the internal market.We believe that demand for marketing automation SaaS solutions is going to significantly increase as e-commerce businesses need to respond to the increasing online channel penetration and, in turn, greater competition for e-commerce market share would require more differentiation in this field. More and more e-commerce leaders will need tech solutions based on AI to help them automate their processes and scale their business rapidly, Hristo Hristov, CEO of HR Capital, adds.Product for the growth of small and medium e-commerce businessesFounded in 2019 by software engineers and data scientists Georgi Georgiev (CEO) and Yavor Stoychev (CTO), the goal of RevOps platform Releva is to enable the fast growth of online commerce businesses. The main vision of the founders was to make marketing automation less complicated for brand owners by providing them with the right tools.At the beginning, for both Yavor and myself, it all started as a side project that we developed parallel to working full-time. Prior to officially establishing the company, we did a pilot project with two big local e-commerce players which we helped with marketing recommendations. In terms of RevOps product, Releva will be looking to make a tiering of its offering and address the needs of small e-commerce brands by integrating with Shopify.