E-Commerce tool DataMilk secures $1.7m pre-seed round to expand internationally

DataMilk

DataMilk, an artificial intelligence (AI) tool which autonomously optimises e-commerce websites to improve the customer experience and drive increased sales, has raised a $1.7m seed round led by Brazilian VC big_bets, European investors RTP Global, and Berlin-based Angel Invest, with additional support from investors Matthew Freud and the founders of digital commerce platform VTEX to expand its product offering across the globe as it takes on more employees to drive forward product development.

Using AI, the company provides an accurate measurement of an E-Commerce store’s design efficacy while recreating the work of a dozen Google-level engineers, data scientists and designers to optimise a store and increase sales.

DataMilk’s proprietary AI algorithm finds variations of an E-Commerce store’s design, such as button sizes, colours, font, element order, and more to automatically generate thousands of different experiments that are launched across the site. DataMilk then observes the performance of these variations across various core cohorts of users and automatically launches the most engaging UI to generate increased sales.

The company strives to ‘fix the internet’ with AI and despite having been on the market for less than three months, DataMilk’s unique level of automation innovation has already led more than 70 E-Commerce clients to sign-up.

Founded a year ago by ex-Googlers, the DataMilk team possesses more than 50 years of data-driven optimization experience, having generated $3.2bn in extra revenue for Google every year. Though it considers itself a London-born startup, the DataMilk team is fully remote with employees spread over a dozen countries, allowing DataMilk to effectively build relationships with clients all round the world. Moreover, with management practices taken straight from Silicon Valley to a startup environment, DataMilk has created a unique company culture that will scale well.

Peter Szalontay, Founder at DataMilk, said: “DataMilk comes at a time of amazing pace of innovation in AI. We’ve been exposed to decision-making systems for a while – AI analyzing data and deciding best options or flagging weird data to stop a process; but we’re only now starting to see the impact of generative models – which open the path to computer creativity. We decided to combine these systems and structure them around core principles we learned at Google while optimizing search. DataMilk’s AI engine is our answer to the lack of optimization teams (engineers, data scientists and designers) available to the majority of internet companies. As such we’re democratizing a practice that mostly exists only in the largest of silicon valley companies due to a shortage of qualified talent.”

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