New York-based ChatLabs has raised $3.2 million in seed funding to advance so-called social commerce, enabling brands to leverage growing social media audiences.
The round was led by Atlanta, Ga.-based Silicon Road Ventures, a vertical fund exclusively focused on commerce tech, with participation from San Francisco-based Pier88, an alternative asset manager backing innovative technology companies, Mu Ventures, a New York-based firm focusing on commerce startups, and strategic business angels.
Diverse Founders
ChatLabs was founded by China-based Gray Guo, senior vice president of tech delivery; London-based Michel Tjoeng, and CEO Jenkin Richard, founder of social commerce firm Chatly that was acquired by Salesforce. Richard, who received an MBA from MIT’s Sloan School, is based in McLean, Va., according to his LinkedIn profile.
“Modern consumers expect seamless transitions from social platforms to brand websites,” said Tjoeng, a former De Beers executive. “Our technology bridges this gap by dynamically adapting the brand experience to match each visitor’s unique context and intent, significantly improving engagement and conversion rates.”
Hyper-Personalization
ChatLabs’ Social eXperiences Platform uses advanced algorithms to analyze user data, social media activity and browsing history, before leveraging generative AI to build hyper-personalized targeting of customers with content and dynamic call-to-actions. According to the startup, 64% of consumers today buy through social channels, and an estimated 28% of online sales next year will come from social commerce.
“Think of TikTok and Instagram feeds. Every person has their own feed. Your feed is different from your friend’s feed,” Tjoeng told Viva Technology in an interview. “We are already used to hyper-personalization, but for some reason, websites have not caught up to the fact that algorithms can give a better customer experience than manually curated websites.”
Commercial Real Estate
MacKenzie Companies
Advertising / Media / Communications / Public Relations
Nevins & Associates
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
In 2023, ChatLabs won the Data & AI Award at the LVMH Innovation Awards at Viva Technology in Paris. The award also gave ChatLabs a place in La Maison de Startups, LVMH’s startups accelerator based in Paris at Station F.
Pushing Luxury Brands
“ChatLabs’ innovative approach to personalization represents the future of digital brand engagement,” said Sid Mookerji, managing partner at Silicon Road Ventures. “Their proven success with global consumer brands demonstrates the platform’s potential to transform how companies connect with their social media audience.”
ChatLabs’ customers include luxury brands of the LVMH Group, including Dior and Tiffany. The latest funding is expected to enable ChatLabs’ expansion into new markets and verticals, while accelerating platform development to enhance performance and scalability.
