Valar Ventures, backed by Peter Thiel, led a $7 million funding round for e-commerce startup Granify.
The Canada-based platform analyzes customers’ activity to identify if they are potential buyers or if they are just window shopping. Then, Granify tries to persuade shoppers to buy the items by “providing contextual stimuli” like reminders of “free, no hassle returns.”
“With this current round of funding, the company is positioned to bring its proven conversion tools to the world’s largest e-commerce businesses,” said James Fitzgerald, Valar Ventures’s partner.
Existing investors iNovia Capital and Social Starts also participated in the round.
