Monocle, a NYC-based AI-powered promotion platform provider, is emerging from stealth mode supported by a $7.5M seed funding.
The round was led by F2 Venture Capital with participation from Tiferes Ventures and irrvrntVC and from founders at, Instacart, Everlane, Melio, and Chubbies.
Co-founded by Noam Szpiro and Mark Lotman, Monocle is an AI-powered promotion platform for consumer brands. It enables brands to create and orchestrate smart promotions that drive incremental profit without sacrificing brand equity or margins. The company offers quick integration capabilities and the platform can be used within days without the need of internal engineering or data science teams to help with onboarding. The technology connects to a brand’s store and email/SMS platforms (such as Klaviyo and Attentive), delivering a performance snapshot alongside a granular analysis of promotions indicators impacting brand performance such as online revenue, budget spent on promotions to date, average incentives given to customers, customer lifetime value, and more.
Headquartered in New York City with offices in Tel Aviv, the company is working with consumer brands like Death Wish Coffee, Honeylove and Brunt Workwear.
Monocle opened its platform to select brands in 2023, and is already being used by Death Wish Coffee, BRUNT Workwear, and Honeylove, among others.
FinSMEs
02/05/2024