Start-ups in retail technology are growing and Retail Week is highlighting some of the best. This week Klevu is in the spotlight.
Klevu is a search analysis tool for online retailers that tracks and optimises search results for shoppers in real time. Chief executive and co-founder Nilay Oza explains more.
Investment: £196,000 from Finnish seed investors KoppiCatch and Inventure
Retail partners: Red’s Gear and Jack Daniel’s
Founders: Nilay Oza, Niraj Aswani and Jyrki Kontio
What it does
Klevu is a search technology provider for online retailers designed to help retailers deliver more accurate search results for shoppers and increase sales.
The start-up’s software analyses searches on retailers’ websites based on the keywords that shoppers regularly use. It is designed to understand shoppers even if the keyword searched for isn’t clear or doesn’t match the exact keyword in the product catalogue.
Klevu’s chief executive and co-founder Nilay Oza says: “Klevu is served from powerful cloud-based technology – meaning stores can scale up or down in terms of products or traffic.
“Our technology connects search to sales, which means it brings end-to-end visibility for retailers on the customer journey for shoppers from typing a keyword in the search box to checkout.”
What problem it solves
Online shoppers have increasing expectations and more choice than ever. It is essential that an online retailer’s website delivers what a customer is looking for immediately or they may choose to spend their money elsewhere.
Klevu’s software fits into a retailer’s existing online offer and learns in real time what shoppers are searching for, as well as the words they are using to find it.
“Online site search is one of the key catalysts for conversion and when it isn’t properly considered, an online store might be missing out on thousands of potential conversions a year,” says Oza.
“Klevu is an intuitive search tool that really gets to grips with what the shopper is looking for and delivers results that will help drive sales.”
More information: www.klevu.com