# Octane AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/octane-ai

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.octaneai.com
- Total disclosed funding: $11M
- Latest round: Seed (Aug 21, 2020)
- Investors on record: 9

## About

Octane AI, Inc. is a technology company that specializes in enhancing customer engagement for Shopify merchants through personalized product quizzes designed to optimize sales conversions and improve shopping experiences.Founded in 2016 in San Francisco, US, Octane AI, Inc. provides a quiz platform for e-commerce optimization. The company has successfully completed a total of 6 deals, with the most recent funding round occurring on July 20, 2021. The latest funding raised USD 5 mn, led by Javelin Venture Partners with participation from other investors such as Bullpen Capital, General Catalyst Partners, and Boost VC. The founders are Ben Parr, Leif Brooks, and Matt Schlicht, with Matt Schlicht currently serving as CEO.Octane AI specializes in providing a comprehensive quiz platform designed for Shopify merchants to enhance customer engagement and optimize sales conversions. Their core offerings include customizable product quizzes that guide users to the most suitable products based on their preferences, concerns, and shopping behaviors. These quizzes are integrated seamlessly with e-commerce platforms and are tailored to collect zero-party data, which helps merchants build marketing lists and personalize customer interactions. By empowering Shopify merchants with actionable insights about their customers, Octane AI aims to improve the overall shopping experience and foster customer loyalty. The company serves a global client base, with a notable presence in North America, Europe, and Australia, catering primarily to e-commerce businesses in diverse retail sectors.Octane AI operates on a subscription-based revenue model, where clients pay for access to their suite of tools and services tailored for e-commerce optimization. The transactions between Octane AI and its clients typically involve monthly or annual subscription fees, which grant access to various features such as quiz creation, data analytics, and integration capabilities with other marketing platforms. The company emphasizes its success through testimonials from notable clients, reflecting significant improvements in metrics such as average order value (AOV) and conversion rates. Flagship offerings, including their advanced quiz builder and customer insight tools, are integral to their revenue generation strategy, as they provide added value to merchants seeking to enhance their marketing efforts and drive sales.In July 2021, Octane AI, Inc. raised USD 5 mn in venture funding, which will be utilized to propel product development, innovation, and growth. The company plans to introduce new products aimed at further enhancing its quiz platform and expanding its capabilities. Additionally, Octane AI aims to enter new markets across Asia and South America by 2023, broadening its reach and client base within the global e-commerce landscape.

## Funding rounds

- Seed, Aug 21, 2020, $4.3M — General Catalyst Partners, Bullpen Capital, Boost VC, FJ Labs, Nelstone Ventures, Mana Ventures, True Capital Partners, LLC
- Seed, Mar 19, 2020, $3.5M — FJ Labs
- Seed, Sep 18, 2017, $1.5M — General Catalyst Partners, MaC Venture Capital, TCM Capital
- Seed, Nov 2, 2016, $1.5M — General Catalyst Partners

## Investors

- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Seed
- MaC Venture Capital (https://capitalatlas.ai/funds/mac-venture-capital) — Seed
- TCM Capital — Seed
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Seed
- Bullpen Capital (https://capitalatlas.ai/funds/bullpen-capital) — Seed
- Boost VC (https://capitalatlas.ai/funds/boost-vc) — Seed
- Nelstone Ventures (https://capitalatlas.ai/funds/nelstone-ventures) — Seed
- Mana Ventures (https://capitalatlas.ai/funds/mana-ventures) — Seed
- True Capital Partners, LLC — Seed