A beauty-focused tech firm has raised £1 million seed funding to invest in its platform and international expansion.
London-based Odore is described as an all-in-one platform for brands to design and deliver product campaigns.
The investment was led by Blackfinch Ventures with participation from SFC Capital as well as notable angel investors such as Alister Esam.
While beauty and grooming eCommerce surged 42% in the UK alone in 2020, the average conversion rate for the eCommerce industry dropped from 2.31% to 2.12% in the same year.
With the increasing complexity around data privacy rules, coupled with a lack of tools for marketers, Odore says brands are struggling to create long-term customer value and provide personalised content at scale.
L’Oreal among clients
Launched in 2018 by co-founders Armaan Mehta and Karan Gupta, the Odore platform integrates with existing systems such as Klaviyo, Shopify, Salesforce and Digital Sampling, with the aim of making it easier for brands to build and deploy via a no-code content builder and multichannel marketing automation.
Odore has a team of 15 employees and counts industry giants such as LVMH and L’Oreal as clients.
“We’ve had the pleasure of working with some of the best in the industry and have listened to their pain points, which has led to the creation of a platform that takes the customer and brand relationship to a new and exciting era,” said Mehta.
“Personalisation is the future of eCommerce, and we’re thrilled to have found investors in Blackfinch who are passionate about this mission and are fully aligned with our values and approach.”