Newport-based Envolve Tech, whose pioneering AI platform allows retailers to make informed product recommendations to customers from an analysis of online chat function conversations, has embarked on major expansion into the lucrative US market.
The start-up, which last year raised £720,000 to support its growth plans, has appointed Marc Blumberg to head up its New Year office as part of expansion strategy into the American online retail sector. Future international offices are also planned.
The move comes less than eighteen months after the launch of Envolve Tech’s virtual shopping assistant, which uses artificial intelligence-powered technology to analyse customer chat questions, recommend relevant product selections, and close sales.
The virtual shopping assistant quickly gained significant attention in the US market after its debut at Affiliate Summit West conference in Las Vegas in January last year and began partnering with US retailer websites within a few months.
Major brand partners in the UK and the USA including Haynes Manuals, Beko appliances and Stila Cosmetics.
The decision to expand with a US office was taken following Envolve Tech’s strong Black Friday results, when revenues from US retailers exceeded UK revenues for the first time.
Its chief executive Emma Smith said: “In the past year we have become a much more established player in the market, and this year we will be focusing on growth. The US is a key market for us to expand into because of its size, and also because American online retailers have shown such strong interest in our product from the start.
"The decision to hire Marc was easy and is a perfect fit for us. He has experience working with UK and German tech firms who have successfully expanded into the US, and he also has a lot of experience in the online retail industry.”
Mr Blumberg said: “Online retail reached an estimated $708bn in 2020 - a record level. Shoppers who have moved online in the last year still have the same questions they used to ask in person, but no easy way to ask them in an online environment.
"The virtual shopping assistant brings the in-store shopping experience to a website, and that’s something every retailer, big or small, desperately needs to do at the moment.”
On future expansion plans Ms Smith said, “The US is our main focus for now, but we are certainly looking at other countries and other languages to work in."
