Re:nable secures €1.5M in Seed funding
Re:nable secures €1.5M in Seed funding from a group of angel investors.
Re:nable a Swedish martech scale-up secures €1.5M pre-Series A Investment Round to expand our offering Cooperative Marketing for Global Brands and Retail to new segments and outside Nordics.
Since launching in 2018, Re:nable has emerged as one of the most innovative AI-software tech companies offering Cooperative Marketing and ad-automation technology for major consumer brands, such as LGE, Logitech, Samsung, Philips, and the brands' retail partners, in the new First-Party Data era of Consumer-Friendly Marketing.
“We secured product-market-fit and proven ourselves in the consumer electronics segment, where our clients are the largest e-tailers in Nordics and most of the major global Electronics brands. We are now ready to scale to several new retail segments and major markets in Europe. Our solution gives both brands and e-tailers significantly increased sales. We now looking forward to expanding and enable our concept as an industry standard in global e-commerce landscape. ” says Leif Sundström CEO at re:nable
re:nable’s platform is easily integrated with any retailer eCommerce system, and collects information regarding which products are being viewed and purchased by consumers, also referred to as “First-Party Data.” The AI engine analyses consumers’ purchasing behaviours and automatically generates a variety of compelling ads that promote participating brands’ products to consumers with proven purchase intent. The AI-generated ads leverage rich product content such as high-quality product videos, and curated reviews from both experts and consumers.
Brands, which sell through retailers and not through their own store, generally have a hard time reaching consumers with proven purchase intent. Re:nable solves this problem by enabling these brands to run targeted campaigns based on data from their retail partners' websites. At the same time, retailers benefit from extra marketing investments that strengthen their position and increase their own sales, meaning a clear win-win for both parties.
The result is a transformative offsite Retail Media service - offering a significant improvement in relevance and engagement. Re:nable’s solution improve the average ROAS to 12X and generated best-in-class CTR of 2.3% across all channels, products and seasons, for large consumer brands and their major retail chains.
“Our AI-platform automates large-scale ad production, resulting in ads with significantly more relevant content that varies with every consumer interaction. Hyper-relevant content, together with access to the retailers’ visitor data, creates a completely new type of highly effective e-commerce marketing. Brands can finally pinpoint the in-market consumers and educate them with the type of product information that they are looking for. By being highly relevant to consumers, our ads build the feeling of trust that is necessary for online conversions to happen. ” continues Leif.
Media Contact:
Leif Sundström, CEO and co-Founder,
Mobile: +46 706 155 146
Mail: Leif.sundstrom@renable.com
About Renable:
Renable is a leading provider of generative AI solutions for the e-commerce industry, committed to enhancing campaign effectiveness and delivering exceptional results for retailers worldwide. With a track record of innovation and collaboration with global brands, Renable is at the forefront of driving positive transformation in the e-commerce marketing landscape.
