Octup, an AI-driven ecommerce insights platform, says it “uncovers overlooked data” from brand manufacturers’ operations, including packaging, logistics and warehousing to last-mile delivery, returns management and customer support. In turn, it reveals opportunities to cut operating costs and boost profits, the startup says.
A group of investors led by Tal Ventures is backing Octup with $4 million in pre-seed funding. Octup says it will use the funding to “broaden the rollout of its 360-degree end-to-end discovery platform for ecommerce.”
Alon Partuk, founder and CEO, says he founded Octup in 2022 to “tap into deeper operational insights beyond standard metrics to uncover real opportunities,” adding, “We believe it’s crucial to understand how key business metrics like lifetime value and client retention relate to the quality” of a company’s service.
Prior to Octup, Partuk founded outdoor gear and apparel brand and merchant Apricoat, where he says he got the inspiration to develop Octup. He remains a director of Apricoat.
Octup says its technology helps global brands across such product categories as apparel, supplements, consumer electronics, skincare, and cosmetics jewelry.
John Michael Fabrizi, president and chief operating officer of outdoor apparel and hiking gear brand Coalatree, says in an Octup press release that Octup’s technology has helped Coalatree produce a 14% increase in customer retention, a 12% reduction in cost per order, and 9% revenue growth.
Fabrizi adds that, prior to Octup, Coalatree “grappled with data silos and missed opportunities due to disjointed insights across platforms, which limited our revenue potential.” He says Octup’s “user-friendly platform bridges these gaps, enhancing cost efficiency and profits.”
Ron Ostroff, the founder and managing partner at Tal Ventures, says his firm backs Octup for its ability to deliver “transformative benefits to ecommerce businesses, cultivating substantial growth and bolstering profitability.”
Octup says its financial backers also include Bullet Ventures, HCS Investors Group, World Trade Ventures, and the founders of unicorn technology companies Trax and Rapyd.
Paul Demery is a Digital Commerce 360 contributing editor covering B2B digital commerce technology and strategy. [email protected].
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