Releva has completed an $870,000 financial round to accelerate the global strategy of the company.
The company’s core mission is to help online stores grow like venture-funded technology start-up companies without giving a stake in their business.
We are extremely happy to announce that our revenue operations and analytics growth platform Releva has completed an $870,000 financial round led by New Vision Fund 3 with participation by HR Capital AD, Verto Invest and the investment arm of private investors. The new funds will be used to accelerate operations and support the global strategy of the company.
Releva’s real-time AI engine solution can predict the next purchase of a client and automatically send highly personalized messages across the multichannel (web personalization, email, push, SMS, messengers, Facebook, Google) to simulate a service like in the local grocery store where a grocer knows clients since they were kids. The AI forecasting engine of Releva can predict the merchant’s sales potential and deal with changes in its supply chain regardless of the product category to which merchants belong. Releva can automatically turn an online shop into a fast-paced growing business by effectively, scalably and autonomously monitor, attribute, measure KPIs, experiment and operate all important aspects of sales, marketing and supply that only tech startups in the commerce space would currently enjoy.
Releva was founded in September 2019 by our CEO Georgi Georgiev and our CTO Yavor Stoychev. The core mission of the company is to help online commerce grow as fast as possible, truly own the data that clients share with the brand, and bring-back the trust between brands and people by reinforcing empathy and ethics in communications.
“We are delighted to support Georgi and Yavor in the next phase of Releva’s growth. We believe that demand for marketing automation SaaS solutions is going to significantly increase as e-commerce businesses need to respond to the increasing online channel penetration and, in turn, greater competition for e-commerce market share would require more differentiation in this field. Releva’s customer data platform and technology are exceptionally well positioned to deliver superior customer experience and higher ROI for merchants. This investment fits perfectly within our fund’s strategy and enhances our presence in the e-commerce and SaaS verticals.”
Aleksandar Terziyski, partner at NV3 Venture Fund.
“We have found a huge opportunity to truly revolutionize the foundational mechanisms of online commerce growth and finance and “devolutionize” communication between brands and people with cutting edge technology that boosts growth with trustworthy AI. We are grateful to have top tier investors joining the team. The recognition from our investors, combined with the strong traction we are seeing from the market, increases our confidence in the future global growth of the company.”
Georgi Georgiev, CEO of Releva
Releva provides and is in the process of implementing a variety of technologies that merge sales and marketing operations, payments, growth KPIs and analytics, forecasting technologies and financing opportunities allowing merchants access to tailor-fitted tools to plan, execute, operate and finance their supply chains. The essence of the technology is purchase intent prediction and forecasting AI solutions that base their decisions on real-time user’s intent big-data.
The size and the potential of the market that Releva addresses can be understood from data published by Statista. In 2021, retail e-commerce sales amounted to approximately 4.9 trillion U.S. dollars worldwide. This figure is forecast to grow by 50 per cent over the next four years, reaching about 7.4 trillion dollars by 2025. In another forecast, Statista predicted the biggest growth in Asia (51%), followed by China (49%), EU (42%) and North America (35%).
New Vision 3 is a venture capital fund investing in start-up companies. The fund is a successor of NEVEQ I and NEVEQ II, veterans of the venture capital industry in Bulgaria and the region. NV3 operates from Sofia, Bulgaria, and invests in fast-growing tech companies, which aspire for the leading position in their domains on the local and/or global markets. The leading co-investor in the fund is Fund of Funds in Bulgaria with a commitment of EUR 19.1 million provided by the operational program Innovation and Competitiveness 2014 – 2020, co-financed by the European Structural and Investment Funds.