Klevu raises $12M for AI that personalizes ecommerce search

“While year-over-year consumer spending in the U.S. dipped last month, the pandemic has supercharged ecommerce. According to data from IBM’s U.S. Retail Index, business closures and shelter-in-place orders accelerated the shift to digital shopping by five years, with online shopping projected to grow nearly 20% in 2020.
Based on the survey data from BMC and Mercatus, ecommerce grocery orders alone totaled $5.9 billion, up 3.6% from $5.7 billion in August.
As of Q1 2019, just 2.72% of ecommerce website visits converted into purchases, according to Statista.
Klevu customer Puma says it saw an over 50% increase in search-led conversions on one of its websites after adopting the platform.”