Connectly.ai, a company that leverages artificial intelligence to help retailers and e-commerce leaders sell products and services on any messaging platform, has just secured a $20 million Series B funding round led by Alibaba. This capital will be used to expand Connectly's platform, increasing its San Francisco-based staff from 65 to nearly 80 by the end of this year.
Stefanos Loukakos, the founder of Connectly.ai, previously served as the head of Meta's business-focused Messenger division and briefly as the director of the tech giant's blockchain organization. A few years ago, he noticed that online retailers struggled to connect with potential shoppers. He believed the issue lay in their lack of targeted marketing efforts.
Loukakos stated, "Businesses need a solution to create successful messaging campaigns and automatically engage with potential and existing customers. Ideally, it should also tailor recommendations to ensure customers find products they love and help companies gain deeper insights into their customers."
Connectly.ai's platform integrates multiple messaging applications and services (including WhatsApp, Instagram, SMS, and web-based chatbots), enabling brands to create advertising campaigns and automate certain basic customer interactions. The AI is fine-tuned according to retailers' product catalogs and preferences, integrating with brands' online stores to send SMS notifications about price changes, inventory status, and promotions.
Connectly.ai boasts over 300 paying customers and anticipates a 100% revenue growth in 2024, following a fivefold increase in revenue last year. Venture capitalists are also bullish on Connectly.ai, and this funding will help the company further expand its operations.
A spokesperson for Alibaba said, "We are keen to partner with innovative companies that are paving the way in their industry. Connectly.ai is doing just that by pioneering AI-driven conversational commerce."