Witview closes pre-seed funding round on their path to reveal “What the internet thinks”
April 25, 2019
Witview helps consumers make better purchasing decisions by gathering “What the Internet Thinks” of products being purchased online. With the AI-powered software Witview aggregates product review data from all around the internet and creates easy-to-read summaries on how the product has been rated, what is good and what is lacking from the product in question.
Founded in December 2018, the team has been fast and has already signed contracts with the major Finnish teleoperators and has helped their online stores to increase their sales by 4% on average. Following the early traction, the company has now closed their pre-seed funding round to find capable advisors and to match the requirements of Business Finland Tempo grant. Witview raised 50.000 euros and combined the capital with a 50.000 euro grant from Business Finland.
Everyone knows the importance of reviews when purchasing products online. However, only a hand-ful of companies have resources to collect enough reviews to satisfy the needs of the consumers. The lack of review-data leads consumers to, for example, google for information which drastically decreases the conversion rates in online stores.
What Witview, does, is basically just that – they do the googling for the customer and summarize the relevant and needed information for them to better understand if this product is good match for their needs. The received funding will be used to extend the team and to further develop the product, expand the service to wider amount of categories and take first steps to international markets. The company is already gearing to raise more funding and was just revealed as one of the top 15 candidates in the Nordic Angel Program.
Congratulations on closing your angel round and best of luck going forward!