Canadian visual imaging firm Slyce has secured $7.3 million in Series C round of funding.
The financing round, equal to 8.7 million in Canadian dollars, was led by Salman Partners Inc. and Beacon Securities Ltd. Also participating was PI Financial Corp.
The total raised by Slyce so far is 36 million Canadian dollars, or $30.1 million.
The company’s product image recognition service enables North American retailers to integrate the start-up’s visual search platform with their mobile commerce apps to allow consumers to take pictures of an item on their smartphone and then be shown closely matching product from that retailer’s inventory that can be purchased instantly.
Mark Elfenbein, Slyce’s chief executive officer, said the round of financing “enables us to take full advantage of this appetite in the market and increase our ability to efficiently onboard the world’s largest retailers.”
Neiman Marcus and Tilly’s are clients, and current integrations on the visual search platform include J.C. Penney and Toys ‘R’ Us.