CB4, an AI software company for brick and mortar retail teams, completed a $16M series B funding.
The round was led by Octopus Ventures with participation from Sonae IM and existing investors Sequoia Capital and Pereg Ventures.
The company intends to use the funds to continue to grow adoption and expand the service offerings and client base.
Founded in Israel by Professor Irad Ben-Gal, head of the AI Lab at Tel Aviv University and Chairman of CB4, and Dr. Gonen Singer, GM of the Israeli branch, CB4 provides brick and mortar retailers with a software platform that uses machine learning and advanced AI algorithms to identify high local demand for specific products in stores. When a product fails to sell to predicted demand levels, the system sends an alert to the store manager, highlighting the floor execution issue and suggesting ways to fix it.
The company has offices in New York, London, & Tel Aviv.