FINDMINE
FindMine, founded in 2014 by Michelle Bacharach, is an AI-driven styling platform that helps retailers showcase their products in contextual, shoppable moments.
Profile
AI platform that helps retailers show products in styled outfits or room settings to boost sales.
FindMine, founded in 2014 by Michelle Bacharach, is an AI-driven styling platform that helps retailers showcase their products in contextual, shoppable moments. The company, which began serving clients in 2016, distinguishes itself by using discriminative AI models and supervised machine learning to create outfit and room styling recommendations. FindMine has attracted notable clients like Adidas and LVMH, the latter through its La Maison de Startups program.
In May 2024, the company secured an $8.9 million Series A round led by Grayhawk Ventures, bringing its total funding to $17.6 million. Other investors include Frazier Capital, PJC, and Adidas Ventures. FindMine claims its technology drives a 45x ROI and 226% higher customer lifetime value to acquisition cost ratio.
The company serves over 100 million consumers monthly, with clients spanning apparel, home goods, and beauty sectors. Its early adoption of AI for retail styling, predating the generative AI boom, positions it as a seasoned player in a now-crowded space.
Who buys this
- Apparel retailers seeking to increase basket size
- Home goods brands aiming to showcase room settings
- Beauty companies looking to cross-sell products
- Luxury brands wanting curated digital experiences
- Department stores needing automated styling at scale
Publicly disclosed clients
- Adidas
- LVMH
Strengths and what to watch
Strengths
- Early mover in AI styling with technology developed since 2014
- Proven ROI metrics with 45x return claims
- Strong investor backing including strategic retail investors
Watch for
- Intense competition from newer generative AI styling startups
- Dependence on retail sector's digital transformation budgets
- Potential client concentration risk with key accounts
Key Information
- Founded
- 2014
Frequently Asked Questions
What is FindMine and how does it work?
FindMine is an AI styling platform founded in 2014 that helps retailers showcase products in complete outfits or room settings. It uses discriminative AI models and supervised machine learning to create shoppable recommendations, aiming to increase basket size and customer engagement for apparel, home goods, and beauty brands.
How does FindMine help retailers increase sales?
FindMine claims its AI styling drives a 45x ROI and 226% higher customer lifetime value by showing products in context. Retailers like Adidas use it to display complete outfits, encouraging customers to buy multiple items together rather than single products, which increases average order value.
What types of retailers use FindMine's technology?
FindMine serves apparel brands, home goods retailers, beauty companies, and luxury brands. Clients range from sportswear giant Adidas to LVMH's luxury portfolio. The platform helps apparel brands style outfits, home retailers create room settings, and beauty brands suggest product combinations - all to boost cross-selling opportunities.
How does FindMine compare to newer AI styling startups?
As an early mover since 2014, FindMine predates many generative AI competitors with its discriminative AI approach. Its supervised learning models and six years of client data provide established ROI metrics, though newer startups may offer different creative capabilities in the crowded AI styling space.
Who are FindMine's investors and how much funding do they have?
FindMine raised $8.9 million in Series A funding in May 2024 led by Grayhawk Ventures, bringing total funding to $17.6 million. Other investors include Frazier Capital, PJC, and strategic backer Adidas Ventures, showing confidence from both financial and industry-specific venture capital firms.
What results can retailers expect from using FindMine?
Retailers using FindMine typically see increased basket sizes as customers purchase complete outfits or room settings. The company reports serving over 100 million consumers monthly, with clients achieving higher customer lifetime value through contextual product displays that make shopping more inspirational and convenient.
Sources
- www.findmine.com — Series A funding round details and investor list
- www.findmine.com — Current product offering and client claims
- wwd.com — Founding timeline and technology approach
- www.findmine.com — Company branding and positioning