Image search AI startup ViSenze raises $20m, triples revenue

Singapore-based AI startup ViSenze has raised US$20 million in series C funding led by Gobi Partners and Sonae IM. Existing backer Rakuten and other investors also joined in.

Specializing in visual search tools for online shopping, ViSenze says its 2018 revenue was up 200 percent over the previous year. Its headcount has tripled over the past three years.

Each day, over 3 million image search queries occur through ViSenze’s technologies. The company has over 80 employees across Singapore, China, UK, US, South Korea, and Japan. Its customers include major ecommerce players like Rakuten and Zalora as well as fashion retailers Asos and Urban Outfitters.

Photo credit: ViSenze

Founded in 2012, ViSenze is primarily business-facing, integrating its technology with online retailers and marketplaces. Besides image search, the company’s other products include a recommender of visually similar products and automated product tagging.

ViSenze has partnered with smartphone manufacturers like Samsung, LG, and Huawei to integrate its technology into the phone’s camera system.

“Visuals have incredible power and influence over buying decisions. Therefore, having visual search capabilities within mobile devices delivers a modern, smarter way to ensure discovery by consumers,” said Oliver Tan, CEO and co-founder of ViSenze.

Other participants in this funding round include new backers Tembusu ICT Fund, 31Ventures Global Innovation Fund, and Jonathan Coon’s Impossible Ventures.

Besides Rakuten, existing investors WI Harper Group, Singapore Press Holdings (SPH) Ventures, Raffles Venture Partners, Enspire Capital, and UOB Venture Management also participated.

ViSenze last raised US$10 million in a series B round in 2016. Including today’s funding, it has raised US$34.5 million in total.