Edmonton’s Granify announced today that Peter Thiel’s Valar Ventures has led a $9 million Series A investment in the company.
Existing investors iNovia Capital, Social Starts, and angel investors also participated in the round.
An Extreme Startups grad, Granify has developed technology that converts more online shoppers by predicting, in real time, which shoppers aren’t going to purchase and providing contextual stimuli to help overcome the objection before the shopper leaves the website.
The platform leverages the intelligence Granify has accumulated by analyzing over two trillion behavioral data points each month.
“We’ve been tracking Granify for the past couple of years and have been impressed with the way they’ve nailed product-market fit,” said James Fitzgerald, a partner at Valar Ventures. “With this current round of funding, the company is positioned to bring its proven conversion tools to the world’s largest e-commerce businesses.”
Fabrice Grinda, an investor in several of the largest e-commerce companies globally, including Alibaba and Delivery Hero, believes all retailers should be using Granify.
“Granify is a mandatory tool to maximize online conversion rate and revenue growth,” Grinda said.
According to today’s announcement, Granify is profitable and growing.