Octup has secured $4 million in pre-seed funding from Tal Ventures as well as the founders of unicorn companies Trax and Rapyd, to broaden the roll-out of its 360-degree end-to-end discovery platform for e-commerce.
The company specialises in processing and consolidating data from various operational domains, including marketing, last mile delivery, customer support, and warehousing.
It detects anomalies, correlations, and trends to pinpoint the root causes of cost inefficiencies.
“In creating Octup, our goal was to tap into deeper operational insights beyond standard metrics to uncover real opportunities,” says Alon Partuk, CEO and Founder at Octup.
“We believe it’s crucial to understand how key business metrics like lifetime value (LTV) and client retention relate to the quality of our service. Our dedicated team tackled technical and data complexity challenges head on, developing an advanced engine to access previously elusive information.”
“This innovation now provides complete operational visibility, revealing hidden costs and delivering significant value to our clients. Companies leveraging Octup’s solution have seen their overall profits increase by up to 40%.”
“Octup’s AI driven approach delivers transformative benefits to e-commerce businesses, cultivating substantial growth and bolstering profitability,” says Ron Ostroff, Founder and Managing Partner at Tal Ventures.
“We are thrilled to be a part of their journey and anticipate their rapid expansion in the months and years ahead.”
“Prior to implementing Octup’s solution, we grappled with data silos and missed opportunities due to disjointed insights across platforms, which limited our revenue potential,” says John Michael Fabrizi, President and COO at Coalatree.
“Octup’s user-friendly platform bridges these gaps, enhancing cost efficiency and profits. With their guidance, we’ve achieved a 14% increase in customer retention, a 12% reduction in cost per order, and 9% overall revenue growth.”
“These tangible benefits of the platform are undeniable, and we look forward to our ongoing collaboration as our company continues to grow.”
Bullet Ventures, HCS Investors Group and World Trade Ventures also participated in the round.
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