Threekit, the 3D Visual Commerce Platform for brands, manufacturers and retailers, recently announced a $35 million Series B funding round led by Leaders Fund, with participation from strategic investors ServiceNow and Capgemini and existing investors Salesforce and Shasta Ventures. This capital will allow Threekit to accelerate investments in their product platform, eCommerce integrations, global sales organization and partner network.
“We recognize that shoppers now demand a more dynamic digital product experience when making a purchase decision, and the next frontier to enable this experience is 3D Visual Configuration, Augmented Reality (AR) and Virtual Photography,” says Matt Gorniak, CEO of Threekit. “The Threekit platform has already driven over $1 billion in sales for both our B2C and B2B customers this year. This investment further powers our tremendous opportunity to grow in step with our customers.”
Shoppers want a better online experience
In 2022, it’s estimated that $7.4T worth of B2C and B2B commerce will happen digitally and shoppers are searching for a more effective way to experience products online and buy with confidence. Traditional product photography can’t deliver. Threekit’s visual commerce platform automates the creation of 2D, 3D, and AR visuals and enables product configuration. With Threekit, shoppers can customize, zoom-in, rotate, add-parts, and more for eCommerce, sales, and service. The merchants that provide shoppers with this experience will win big. Customers like California Closets are a great example of this promise coming to fruition.
3D/AR helps brands differentiate and break down silos
Having a digital version of the product is also proven to lead to breakthrough productivity gains for Threekit customers. Brands can prototype without actually making a physical product. They can email out millions of personalized products based on individual preferences, and put one product into multiple scenes without doing photoshoots.
“Our customers are using the platform to get an edge in a new frontier,” continued Gorniak. “They’re designing and prototyping faster and with less waste, manufacturing more efficiently, and gaining a deeper understanding of market demands.”
“There’s a massive shift happening in the world of commerce,” said David Stein, Co-Founder and Managing Partner at Leaders Fund and founder of Rypple (acquired by Salesforce). “Shoppers are demanding more engaging and interactive digital product experiences when making decisions—be it in the form of 3D Visual Configuration or AR—and the brands and manufacturers who provide this experience will capture customer loyalty, increased sales and market leadership. This offering has moved very quickly from a nice to have to a must-have.”
Threekit funding also comes from top tier entrepreneurs and athletes, including Godard Abel (Founder of G2, Steelbrick, BigMachines), Carsten Thoma (Hybris Founder), Ray Grady (former GM of Salesforce Commerce Cloud), and Steve Young (Hall of Fame quarterback).
The promise of visual commerce for NFTs and the Metaverse
Visual commerce is changing the way shoppers experience products digitally and will have a profound impact on NFTs and the Metaverse. Threekit enables brands to create thousands or millions of unique 1 of 1 product creations that can be minted and sold to fans and collectors as NFTs. As virtual products grow, they will increasingly be used for visual identities across virtual worlds.
The Metaverse is a persistent virtual world and shopping will be driven by 3D and Augmented Reality. The brands that work with Threekit will be able to represent their entire portfolio and to allow Metaverse participants to truly engage with their products. To learn more, visit www.threekit.com.
Using the Threekit platform, businesses can upload product information and design files to inexpensively create an unlimited number of interactive 3D, Augmented Reality, and photorealistic 2D visuals. The company’s mission is to give brands super-powers to provide a radically better customer experience for shoppers and business buyers. Discerning brands like Crate&Barrel, Steelcase, TaylorMade, Duluth Trading, and California Closets use Threekit because it drives a 40% increase in conversion, a 90% reduction in photography costs, and 80% reduction in returns. For more information, visit www.threekit.com.
Furniture Industry News and in depth magazine articles for the furniture retail, furniture manufacturers, and furniture distributors.
Read other articles by Nic Ledoux