On May 26, HIGHLINE portfolio company Granify announced a $7 million Series A round led by Paypal co-founder Peter Thiel’s Valar Ventures.
Founded in 2012, the Edmonton-based retail tech startup focuses on helping ecommerce businesses retain customers by predicting why they might leave or fail to complete a transaction on their site, then tailoring content accordingly.
“The concept behind it is that what they would see depends on what we anticipate their objection would be,” Brady Cassidy, Granify’s director of growth, told the New York Business Journal.
“For example,” the Journal explained, “If someone looking for jeans is examining a sizing chart closely, Granify knows that concerns about fit could mean a click off of the site. Therefore, the retailer’s site would pop up a message that reminds the browser of the site’s easy return policy.”
Granify, which currently employs 26 people, will use the funds to help boost revenue for their retailers, increase market penetration, and open a third office — to complement their Edmonton and NYC offices — in Hamburg, Germany.
Read the press release for more details.