The company will use the capital to develop the future of voice-powered shopping
CHICAGO, Feb. 24, 2017 -- ADDSTRUCTURE, a pioneer in rapid natural language search and shopping, today announced a $1.4 million round of seed funding led by Dundee Venture Capital with participation from Techstars Ventures, Best Buy, and Matchstick Ventures.
The Chicago-based company is building a white label voice search system designed to offer major retailers functionality comparable to voice shopping with Amazon’s Alexa or Google Home, from any device. Consumer adoption of voice is growing rapidly, and retailers unable to provide a voice solution risk further erosion of market share to those who can.
The current state of mobile shopping still involves cumbersome searching and refining on tiny screens. And voice assistants like Google Home and Alexa having no ability to refine results or interact with a shopping list via voice. With AddStructure’s technology consumers can quickly reorder everyday essentials, build custom shopping lists in seconds, and navigate to specific products instantly. The added consumer convenience directly increases a retailer’s top line revenue through faster transactions, which increases product conversion.
Unlike other natural language solutions on the market, AddStructure is focused on e-commerce and provides unique capabilities that require no training or AI expertise on the part of customers.
AddStructure was a participant in the Target + Techstars Retail Accelerator, which concluded on Sept. 20, 2016. The program is a three-month intensive startup accelerator focused on bringing new technology, experiences, products, and solutions to retail.
Founded in 2014, AddStructure Corporation is headquartered in Chicago, IL with an additional office in New York. The company already works with more than five top retailers in the United States.
For more information about AddStructure, visit https://www.addstructure.com/.
AddStructure provides state of the art search and discovery applications for e-commerce companies. Each day, millions of consumers interact with AddStructure's products and data. Applications of the technology range from review summarization (distilling thousands of reviews of a product into digestible pros and cons) to a complete conversational commerce system (chatting with an intelligent digital assistant to find and purchase products).