# OpenMartech

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

- Industry: Marketing/Advertising
- Headquarters: Zionsville, US
- Website: www.openmartech.ci
- Total disclosed funding: $1.5M
- Latest round: Seed (Mar 6, 2019)
- Investors on record: 3

## About

OpenMartech is a technology company specializing in AI-driven solutions for the retail sector, helping businesses optimize customer engagement and sales strategies through advanced data analytics.OpenMartech was founded in 2016 in Zionsville, US, by Angel Morales and Reuben Vandeventer. The company has executed 2 deals, with the most recent on March 6, 2019. In this deal, OpenMartech raised USD 1.5 mn in Seed funding, led by Elevate Ventures alongside Indiana University Foundation and Innovate Indiana Fund. As of the latest funding, the total amount raised by OpenMartech stands at USD 1.5 mn.OpenINSIGHTS offers a suite of AI-driven solutions for the retail sector, focusing on enhancing customer engagement and optimizing sales strategies. Its core offering, the Opportunity AI platform, utilizes machine learning algorithms to analyze customer behaviors and journeys across multiple sales channels. This platform allows retailers to develop personalized marketing strategies that drive customer acquisition, retention, and churn prevention. OpenINSIGHTS serves a diverse clientele, including major brands in fashion, home goods, and outdoor sporting goods, primarily in North America and Europe, while ensuring GDPR compliance and seamless integration with existing marketing infrastructures.OpenINSIGHTS generates revenue through a combination of SaaS subscriptions and partnerships with retail clients. Clients can utilize the Opportunity AI platform as a cloud-based solution or a managed virtual appliance, facilitating scalable implementation. Additionally, the company engages in revenue-generating activities through its Proofcamp program, offering clients a low-risk opportunity to explore AI capabilities, often funded in collaboration with Google. Contracts typically involve multiyear subscription agreements granting access to core AI services and support packages, ensuring ongoing revenue as clients utilize various services to enhance marketing performance and customer insights.Following the Seed funding round on March 6, 2019, OpenMartech plans to enhance its product offerings and expand into new markets. The company is developing new features for the Opportunity AI platform, aiming for a rollout expected in 2024. Geographically, OpenMartech intends to expand its operations into Asia and Latin America by 2025, leveraging the recent USD 1.5 mn funding to support these strategic initiatives and further develop their technology infrastructure.

## Funding rounds

- Seed, Mar 6, 2019, $1.5M — Indiana University Foundation, Elevate Ventures, Innovate Indiana Fund

## Investors

- Indiana University Foundation — Seed
- Elevate Ventures (https://capitalatlas.ai/funds/elevate-ventures) — Seed
- Innovate Indiana Fund — Seed