Investors proceed to pour money into artificial intelligence (AI) development firms, especially ones focused on ecommerce. A living proof is Daydream, which has just raised $50 million in startup capital from Forerunner and Index Ventures with participation from GV (Google Ventures) and True Ventures.
Daydream is raising capital as much for its newly developed AI program for ecommerce site search because it is for the ecommerce veterans which are constructing and launching the corporate.
In the autumn, Daydream will introduce its first shopping category, an AI-assisted search engine that Daydream says offers a greater technique to find and discover women’s and men’s fashion.
Ecommerce technology and retail veteran Julie Bornstein leads Daydream. She previously held leadership roles at startups including Stitch Fix. Bornstein served as chief operating officer and helped scale the corporate to $1 billion in revenue in about six years.
She also has worked as Sephora’s chief marketing and digital officer at Nordstrom and Urban Outfitters. Most recently, Bornstein was the co-founder and CEO of THE YES, an AI-powered shopping platform startup for girls’s fashion that was acquired by Pinterest in 2022.
Other members of Daydream’s management team include:
- Dan Cary as chief product officer, formerly at Google including Google’s AI research group.
- Matt Fisher because the chief technology officer. He previously led data and applied science at Microsoft and oversaw measurement and marketing science at Amazon for Prime Video.
- Lisa Green as chief business officer. She has led partnerships and business development for Google, THE YES, and Condé Nast.
- Richard Kim as chief strategy officer. He most recently worked as head of shopping strategy and operations at Pinterest.
In its pre-launch phase, Daydream already has near 2,000 brands in its catalog.
“While existing shopping and e-commerce sites try to retrofit their experience to include AI into their legacy systems, Daydream will probably be the primary business that was conceived and built to make the most of the newest advancements in AI and apply them on to a brand new and improved consumer experience that’s each intuitive and highly personalized,” the corporate says. “Daydream was created to remove most of the pain points of online shopping and help consumers find what they need and love from all of their favorite brands in a single place.”
Submit a nomination
Nominate a game-changer for the Global B2B eCommerce Industry Awards from Digital Commerce 360 and the B2B Ecommerce Association.
Join
Join for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends within the growing B2B ecommerce industry. Contact Mark Brohan, senior vice chairman of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan. Follow us on LinkedIn, Twitter, Facebook and YouTube.
