Our investment in Intelligems
We are excited to announce that Matchstick Ventures Fund II has completed an investment in Intelligems. Intelligems is a profit optimization engine for e-commerce companies.
Background: E-commerce has exploded. Over the last decade, more and more buying has moved online, accelerated even further by the COVID lockdowns of 2020. Some experts estimate in just the last two years alone, the e-commerce adoption curve was accelerated five to ten years ahead due to the pandemic.
With more buying online, there’s also more need for e-commerce shop owners to optimize their offerings, not just with new products but also their purchase experience and financial margins. Their teams are often lean and not deeply analytical, creating major demand for software that can help them easily understand the financial decisions they are making and increase profits. Hundreds of thousands of e-commerce stores exist today looking for these tools to optimize their business.
Company Specifics: Intelligems is a profit optimization engine for e-commerce stores that helps these companies develop more profitable pricing, discounts, product bundling, and shipping + handling fees. In e-commerce, there are several factors including price, subscriptions, discounts, bundling, and returns that play a role in the financial health of the company. Yet most brands guess at how to set these - there is a huge opportunity to help them solve problems in those areas with data. Intelligems is that tool.
After plugging in Intelligems’ algorithmic software into the backend of their store, e-commerce brands can run tests to find pricing and margin opportunities, alerting companies to small changes that can have big impacts. For example, sometimes a 3% increase in price can have a 50% impact in margins while not impacting the volume of sales. These insights and changes make a big difference for e-commerce entrepreneurs and companies.
We first met the Intelligems team serving as their lead mentor in the Techstars Boulder 2021 program, and believe Drew and Adam are world-class experts at solving these problems. With their previous experience building the dynamic pricing system at Via Transportation, a company with millions of pricing data points, they are uniquely suited to take what they learned and bring it to a larger audience of e-commerce stores and brands.
Learn more at:https://intelligems.io/