Constructor Raises $55 Million For Online Search and Discovery Capabilities
Constructor, an eCommerce search and product discovery solutions provider, recently announced a $55 million Series A funding round led by Silversmith Capital Partners on the heels of more than tripling its ARR year over year and partnering with retailers like Sephora and Backcountry. The round also includes a lineup of investors who are experts in the space, including: David Fraga, […]
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Constructor, an eCommerce search and product discovery solutions provider, recently announced a $55 million Series A funding round led by Silversmith Capital Partners on the heels of more than tripling its ARR year over year and partnering with retailers like Sephora and Backcountry.
The round also includes a lineup of investors who are experts in the space, including: David Fraga, former President of InVision, who will be joining Constructor’s board; Kevin Weil, former Head of Product at Twitter and Instagram; Jason Finger, founder of Seamless; Carl Sparks, former CEO of Travelocity; Robyn Peterson, CTO at CNN; Dave Heath, Founder of Bombas; Ryan Barretto, President at Sprout Social; Melody Hildebrandt, EVP Engineering and CISO at Fox; Zander Rafael, Co-Founder of Better.com; and Seth Shaw, CRO at Airtable. Also participating is the Cap Table Coalition, which expands opportunity for traditionally underrepresented investors. As part of the investment, Silversmith General Partner Sri Rao will also join Constructor’s Board of Directors.
“Constructor is the only product discovery platform built from the ground up to learn from the actions of shoppers, without ever collecting personally identifiable information, to improve their discovery experience as they shop,” said Eli Finkelshteyn, CEO and Founder of Constructor. “We’re incredibly proud of the real, measurable wins every one of our retail customers have seen both in revenue and user experience after implementing Constructor, all while doing the right thing on privacy. We’re already delivering the biggest lifts in the industry, but the most exciting part is how much better the discovery experience can get with this new investment.”
“Poor search and discovery has been the industry standard for too long,” said Finkelshteyn. “Retailers are tired of being promised AI they can’t see and personalisation that doesn’t live up to its marketing hype, and which isn’t actually useful to customers.”
Also Read: How Retailers Can Drive Multi-brand Loyalty
“Constructor is our trusted product discovery partner for its unmatched results, analytics, and true partnership,” said Venkatesh Ananthanarayanan, VP of Engineering at Backcountry.com. “Building search and discovery in-house today is expensive from the standpoint of both people management and infrastructure hosting. It’s now abundantly clear eCommerce companies like ours get much better user experiences and ROI from using solutions like Constructor compared to reinventing the wheel in-house. Even more importantly, while competitors struggle to solve yesterday’s search problems, leveraging Constructor enables us to build on top of it and create the truly unique, personalised, and differentiated experiences of tomorrow. Best of all, the service is easy to test, so we know for certain that Constructor is returning much more revenue to us than what we pay for the service.”
Constructor’s AI-powered platform offers a complete set of discovery tools including search, autosuggest, browse, recommendations, and collections. Each tool collects data, learning in real-time from each query and user to optimise for customers hundreds of millions of times every day. Constructor is the only product discovery tool on the market that doesn’t force you to blindly trust the AI. Customers have complete visibility into how Constructor algorithms rank products, all while giving customers full control over what their customers see for any query.
“Constructor has built a search and discovery platform that is truly making a difference for enterprise retailers. They are providing customers with comprehensive and optimised search and discovery that is unmatched in the market,” said Sri Rao, Constructor Board Member and General Partner of Silversmith Capital Partners. “We are excited to partner with the Constructor team as they continue to revolutionise search and discovery capabilities for retailers across all platforms.”
