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Tel Aviv, Israel – 27 August 2024 – Flashpoint Venture Capital, an international tech investment manager with over $500 million AUM focused on tech companies originating from Israel and Europe, is pleased to announce its 16th investment in Israel - RepAI - an AI sales concierge that helps e-commerce shops to improve conversion rates, primarily focusing on 98% of the website traffic that is about to leave the website. Led by Osage Venture Partners (OVP), the investment will fuel further development of the company’s e-commerce sales tool. Built leveraging a proprietary combination of behavioral AI and large language models (LLMs), the tool enables merchants to provide personalized sales assistance at scale, turning more browsers into buyers. Seamlessly integrated with their existing tech stack and unobtrusive to shoppers, the technology drives an average of 22 percent higher increases in conversions with existing customers.
Rep AI integrates seamlessly with Shopify and post-sale apps like Gorgias, Klaviyo, Zendesk, Yotpo.
They currently serve a broad range of customers including Underoutfit, Fuller Brush, Harney & Sons, and many others.
Noam Wolf, Partner at Flashpoint Venture Capital, said: "Rep AI fills the need to consult with a professional while purchasing online. Especially for first-time shoppers at any given site, consumers want more information and assurance before making a buying decision. In that perspective, eCommerce today is broken, leading shoppers to experience distrust and anxiety. Rep AI solves this problem, assisting both shoppers and eCommerce businesses to have a better experience”
“We are thrilled to partner with Flashpoint Venture Capital as we accelerate our mission to revolutionize the e-commerce experience. This collaboration aligns perfectly with our shared vision of disrupting the online shopping industry, moving merchants from customer support chatbots to advanced AI Sales Concierges,"- says Yoav Oz, CEO and Co-founder of RepAI. "By providing real-time, intelligent assistance to shoppers through behavioral analysis, we help businesses convert and retain customers like never before."
Flashpoint, headquartered in London, is an international tech investment manager with c. $500 million AUM and 3 strategies: Venture Capital, Growth Debt, and Direct Secondary. Focused on global tech companies from Europe and Israel, the firm has made 72 investments and completed 20 exits to date, including selling its stakes to Apple, General Atlantic, PSG, Boathouse Capital, and Blue Star Innovation Partners. Our investors include more than 160 FOs and HNWIs.
Rep AI elevates e-commerce for Shopify merchants with its AI sales concierge, seamlessly guiding shoppers from browsers to buyers using advanced Behavioral AI. Conversations appear when customers need them, offering the right products to accelerate conversions without disrupting the shopping experience. Powered by ChatGPT, Rep AI learns and expresses each brand's unique voice while staying up-to-date by constantly scanning catalogs. Shopify merchants enjoy increased sales, fewer support tickets, and enhanced customer satisfaction with Rep AI.
