SeekNShop.IO – First Voice Search as a service and Cognitive Agent for e-commerce.7 months ago Ramya Sayaboni
Do you run an online store or an Omni-channel business that aims to capture bigger market share and retain more clients? Are you seeing constant flux or consistent decline in customer retention, conversions, and average order value???
SeeknShop.IO’s Natural Language Understanding powered Voice search is the solution you are looking for.
Research suggests that the best in-store (physical) experiences offer the maximum conversion percentages (15-40%) whereas e-commerce has low conversion percentages of (1-3%).
This is primarily because in-store shopping experiences are enabled by human interactions that help in guided product discovery, real-time decision making and suggestions and probably a last minute dynamic discount to ensure purchase completion. The virtual world of online shopping leverages technology to provide recommendations and reviews decision making which is often very time consuming and not ready-made or real-time and lacks human-like interactions. Additionally, lack of sophisticated product discovery, accurate and relevant search dents the bottom-line during discovery. Companies are missing out on high converting shoppers due to their technology limitations in the decision making and discovery areas.
SeekNShop.IO, a Hyderabad based startup (also has offices in the Atlanta, GA in the USA) aims to provide a solution by providing relevant and accurate search to the shoppers with a minimum of 95% to 98% accuracy. They aim to provide better product discovery experience for the shoppers through voice search and natural language interactions. They enable an experience where the user can use free text and communicate like they do in a physical store and find the relevant products faster ( SeekNShop.IO was founded in August 2017 by Sarath along with a team of ex-Microsoft, ex-Amazon squad (average experience of 10+ years).
Sarath is an entrepreneurial engineer and thought a leader who has served in roles of varied responsibilities. He began his career as a Software Design Engineer at Microsoft and worked as a Technical Program Manager in Bing (Microsoft’s Search Engine) and worked at Amazon across the breadth of e-commerce as a Sr. Technical Program Manager and served as a global leader in SaaS products at CA Technologies. With years of expertise and experience launching global marketplaces, managing cross-continental teams, and high visibility initiatives he embarked on the path of entrepreneurship to start SeeknShop.IO. The current team members at SeeknShop.IO are all Ex Amazon and Microsoft employees, who have experience in machine learning and artificial intelligence algorithms.
This tech start-up leverages homegrown patent-pending algorithms (24 patents pending) based on Artificial Intelligence, Deep learning, and Natural Language Understanding to bring the power of human understanding to e-commerce and other domains. Generally, the e-commerce companies use SOLR and elastic search to build their site search or app search. Due to limitations of the search, companies usually miss out on the long tail, and specific searches which often are the most converting searches as 20% of particular searches tend to drive 80% of search conversions as per market analysis.
Their Search offering helps in understanding any Unstructured Text and assists in identifying Structured Semantics. With Self-Learning, Personalization capabilities along with Semantic and Voice capabilities, they provide shopper the ability to explain what they want just like in an offline store. It will auto correct wrong values, offer product suggestions and show user search history as well along with a plethora of merchandising capabilities for sellers to customize user’s search experience and ranking.
It has 24 US patents pending for their Artificial Intelligence (AI) technology across two products. It has recently won Super startup Asia award and also was the Finalist among 61960 startups by the startup Turkey program. They were also awarded the Top 25 Hottest Artificial Intelligence Startups in the Asia Pacific by CIO Advisor Magazine.
They are a bootstrapped startup with a self-funding of 100,000 USD and are making consistent monthly revenue that is keeping them operationally break-even. They currently have customers in the US, UAE, India, UK, and APAC and have partnered with several digital commerce platforms like Magento, BigCommerce, etc., to expand their SME outreach. They are planning to scale their operations by raising money through a Series-A round in the future.