Cimulate Secures $28 Million to Innovate Commerce AI

Cimulate, a pioneer in enterprise AI for commerce, has announced securing $28 million in Series A funding led by Spark Capital. This marks a significant investment aimed at enhancing the shopping experience through AI-driven personalization. The funding round also included participation from Sierra Ventures, Pillar VC, LFX Venture Partners, and Commerce Ventures.

The company's innovative Commerce Experience Server, powered by CustomerGPT, aims to solve the shortcomings of traditional commerce search technologies. This platform enables precise, context-aware interactions, promising over 20% improvement in engagement and a conversion rate exceeding 10%.

Co-founders John Andrews and Vivek Farias, both seasoned industry veterans, are at the helm of this initiative. They previously established Celect, acquired by Nike in 2019. This strategic funding comes at a crucial time, as the commerce sector grapples with a $234 billion annual loss due to search abandonment.