Frontnow secures 3.8 million euros in extended seed financing

In the financing round, Frontnow is led by Peak, with investments from PROfounders Capital and Identity Ventures. The funds will be invested in the further development of AI solutions for e-commerce and the expansion of the enterprise customer base

Berlin, 12.03.2024 - Berlin-based tech startup Frontnow has successfully closed an extended seed funding round, securing a total of 3.8 million euros. The round was led by Peak, with participation from PROfounders Capital and Identity Ventures. The funds received will be used to further develop the technology and expand the enterprise customer base.

Virtual shopping assistant and product descriptions

Frontnow focuses on scalable AI solutions for e-commerce. The company's B2B SaaS solutions enable enterprise customers to address their target groups in a new way. The Frontnow Advisor, a virtual shopping assistant, takes center stage. Through simple plug & play integration, it provides customer advice with relevant information and personalized recommendations.

With its scalable AI solutions, Frontnow offers retailers the opportunity to achieve long-term sales growth, increase their gross margins and remain competitive.

Johan van Mil, Co-founder and Managing Partner at Peak

The advisor uses generative artificial intelligence and over 40 algorithms, including various large language models trained on company data. As a result, Frontnow extends the personal shopping experience from the store to the online store - in 117 languages, around the clock, without additional personnel costs.

Another Frontnow product, Frontnow Enhance, optimizes product descriptions in online stores by cleansing and enriching product data. With one click, it adds contextual meaning, resulting in SEO-optimized content and improved rankings. The self-learning algorithms behind the solutions ensure continuously increasing benefits.

Investment in technology development and customer base expansion

The founders of Frontnow, Marc Funk, Bernhard Lihotzky and Cedric May, founded the company in 2020. The extended seed financing will be used specifically to expand Frontnow's technological lead and drive sales expansion.

We will use the investment primarily to further develop the products and expand our sales partner network.

Marc Funk, Founder and Managing Director of Frontnow

Marc Funk, founder and Managing Director of Frontnow, emphasizes:"Wewill mainly use the investment to further develop the products and expand our sales partner network.The focus here is on customer benefit, because ultimately this is the only thing that determines success or failure."

With the successful conclusion of the extended seed financing round, observers can look forward to seeing how Frontnow will operate in the highly competitive e-commerce sector. Competition is particularly fierce in the area of improved product descriptions in conjunction with search engine optimization. In this context, it remains to be seen how industry players such as Shopify will further develop their strategies. Frontnow faces the challenge of asserting itself in this dynamic market environment and providing innovative solutions.