Israeli social commerce startup Terrific completes its seed round of financing

Israeli social commerce startup Terrific completes its seed round of financing

Published: 21-07-2023 13:07:00 | By: Pie Kamau | hits: 3620 | Tags:

Israeli social commerce startup Terrific has completed its seed round of financing, including the investment from the holding company, Arieli Capital.

Terrific has developed a revolutionary platform for e-commerce sites that leverages the latest trends in social commerce to increase conversions and sales from personalized shopping experiences. Through data and target audience analysis, the company distils the exact information that will improve its clients' sales and exposure.

Grintz founded the company following his service in the Ministry of Defense, where he managed investments in the civilian data industry. The knowledge and tools he acquired during his service formed the foundation for the development of Terrific's technology. Building on the explosion of the live shopping trend in China, Grintz is helping Western brands enter and flourish as well.

The seeds of the platform began forming during the global pandemic, when people's appetites for enhanced ecommerce experiences became clear. Grintz and his team began experimenting with data analysis and AI tools that could help brands drive more impact from these live shopping activities. Distinct from the existing social platform, and their live features, Terrific lets brands maintain all their own data and full branding.

Israel Grintz, Founder, Terrific: "We are happy to enable brands and companies to offer their target audience a uniquely personalized shopping experience. We are committed to continuing our efforts to improve sales and exposure for our clients, while ensuring they maintain full ownership of their own data. As a startup that is less than two years old, we are excited to join forces with Arieli Capital as our newest investors and revolutionize the retail experience together."

Terrific has a long-standing connection with Arieli Capital. The relationship started with the personal acquaintance of Eric Bentov, Founding Partner of Arieli, with Grintz, and was a significant milestone for the company, advancing the development of the project and connections to potential clients. Arieli's international reach in the worlds of commerce, technology, and even fashion, leading to exposure and familiarity with strong industry leaders, enables the fund to put their portfolio companies on the right path. That was a significant advantage with Terrific's clients, established members of the industry, most of whom are in the same circles as Arieli.

Eric Bentov, Founding Partner, Arieli Capital: "The world of e-commerce, combined with advanced AI technologies and with the help of live campaigns, will lead content and sales in the coming years. Terrific has developed a unique technology that redefines the interaction between international brands and consumers using smart algorithms, which delivers proven results. The strength of Terrific is in listening to the client's wishes and making them a reality, in the analytical performance capabilities of the CEO, Grintz, and in having the best minds in e-commerce on their team. These strengths are reflected in the company's growth in recent months and the successful deals it has closed. Thanks to all these and more, we have full confidence in the continued success of the company."