Markable raises $2.55 million led by Plug & Play Tech Center to enhance market-leading computer vision AI platform.

August 9, 2017: Markable, the visual search company founded by Joy Tang, has closed a $2.55 million investment round with participation from Plug and Play Ventures, Bascom Ventures, Plum Alley Investments, Infinity Venture Partners and others. This is Markable’s second round of funding with the previous round led by Cheetah Mobile, the Chinese mobile internet giant (NYSE:CMCM).

“We were drawn to Joy and the team she has built which includes 5 PhDs deep learning scientists and 2 Master deep learning engineers from around the world.  Not only does Joy understand the market opportunity, but Markable is introducing its product to its first clients,” said Deborah Jackson, Founder and CEO of Plum Alley Investments.

With offices in New York and Madison, Wisconsin, Markable is an early stage company with proprietary AI technology that identifies products in photos and videos and makes them available for purchase.  Markable's Lens SDK and API give brands an easy and effective way to find new customers and generate higher conversion rates while allowing publishers and hardware manufacturers to monetize any content living on their platforms.

“The revolution in deep learning AI started two years ago, and we are just seeing a glimpse of its possibilities, especially in fashion,” said Markable CEO, Joy Tang. “Riding the tip of this wave, Markable is going full speed ahead with four elite deep learning scientists, two deep learning professors and award winning engineers to create the cutting-edge AI algorithms and easy-to-integrate, end-to-end solutions that turn any photo or video into a virtual shopping mall.”

Tang is an extraordinary leader in the world of technology. A gold medalist in the Chinese Math Olympics, she attended MIT on a full scholarship and spent seven years writing algorithms for high frequency trading. Seeing a gap in the market for fashion object recognition, she formed Markable and quickly assembled an elite team.

Markable’s scientists and engineers have embraced the challenge of building a technology that can accurately recognize “deformable” products, such as fashion items, which require a much more complex image recognition technology than non-deformable products such as cars or even faces. Long thought of as the next frontier in digital commerce and a massive untapped opportunity, the ability to build this technology has only existed in the last few years as image recognition has improved through artificial intelligence. 

“Our speed is real time and our accuracy is 2-6 times higher than all other deep learning algorithms published,” said Tang. “This round of investment will help speed our development, broaden our product offerings and scale rapidly.”

Markable Unveils Ecommerce Solutions

Markable Unveils Ecommerce Solutions 

Using Fashion Object Recognition to Increase Conversions

 

Markable, the visual search company, unveiled a new suite of ecommerce tools designed for fashion retailers. Powered by the company’s proprietary technology, these easy to implement solutions will help e-retailers improve conversions, decrease bounce rates and increase average order value.

 

Brands and retailers are producing visual content like never before, spending millions of dollars on beautiful photos and videos. But are they maximizing their investment? Markable says no, and they are here to help. They want to put that content to work.

 

The newly released Camera Search SDK allows consumers to upload a photo to a retailer’s mobile site or app and search their product catalog for the exact or similar looking items. This feature encourages discovery and repeat visits.

 

With their Search Similar SDK, Markable gives users the ability to browse visually similar items in a retailer’s catalog without having to scour the site, often forgetting where they started. It also gives retailers the ability to make all images on their site shoppable. So, if a customer sees an item they like in a banner image, they can add to cart on the spot, eliminating the risk they change their mind before they drill down to the product page.

 

Markable’s Lookbook SDK can scan a brand’s social media content to show customers how a piece of clothing is being worn. This ‘validation’ results in fewer abandoned carts as consumers can be more confident in how an item will look on them.

 

Finally, Markable’s Visual SEO SDK brings order to all of those images and videos. Today, most photos must be manually tagged, a time-consuming process with generally less than stellar results. But Markable has a solution that will save time and improve search rankings. With Visual SEO, Markable can programmatically tag every photo and video with dozens of attributes that will catch the attention of search engines and bring more customers to a retailer’s site.

 

Each one of Markable’s products operate in real-time, without any pre-tagging or human interaction. Retailers can finally maximize their investment in visual content.


 

About Markable

 

Powered by computer vision AI technology, Markable is the leader in fashion, multi-object recognition; and with unmatched speed and accuracy, they can turn any photo or video into a virtual shopping mall.