Osage Venture Partners is proud to announce our investment in $8.2M of funding for Rep AI, a Tel Aviv-based innovator that is redefining ecommerce with its AI-powered sales concierge platform. This funding round was led by Osage, alongside Flashpoint VC and returning investors Horizon Capital.
Rep AI empowers ecommerce businesses to supercharge customer conversions while elevating the shopper experience. Its cutting-edge platform integrates behavioral AI to identify disengaged customers, an intelligent AI concierge to deliver personalized assistance, and advanced tools that unlock AI-driven sales opportunities—from in-chat checkout to curated product recommendations and email capture. By seamlessly integrating with Shopify and additional ecommerce platforms, Rep AI is transforming the way businesses connect with their customers, driving both loyalty and measurable sales growth.
Addressing Ecommerce’s Biggest Hurdles
The ecommerce industry has witnessed explosive growth, spurred by changing consumer behaviors and the expansion of online shopping. The market is projected to reach $8.8 trillion in 2024 and climb to $18.8 trillion by 2029. But with this growth comes fierce competition. Customer acquisition costs (CAC) have skyrocketed, rising 60% since 2017 due to stricter data privacy regulations and the dominance of platforms like Google, Meta, and Amazon, which hold significant control over customer acquisition channels.
Low conversion rates further compound the challenge. The average Shopify store sees a conversion rate of just 1.3%, and in this competitive environment, even small gains in conversion can unlock substantial revenue growth. That’s where Rep AI makes its impact, helping ecommerce brands optimize the shopping journey to ensure fewer missed opportunities and more delighted customers.
The Rep AI Advantage
Rep AI’s platform takes a proactive approach to improving customer engagement, leveraging real-time and historical data to identify and address drop-off points in the shopper journey. Key features include:
The company is also building post-sales support tools that will create a broad platform managing the customer journey from the first time they visit a store the whole way through purchase and support. Rep AI’s intuitive self-serve onboarding, accessible via the Shopify app store, ensures that businesses can begin leveraging the platform with minimal setup effort. Its exceptional ROI—with clients reporting returns of 12-15x—cements Rep AI as a must-have tool for ecommerce brands serious about scaling their success.
Since launching in mid-2023, Rep AI has gained the trust of over 500 ecommerce businesses, ranging from small-to-medium-sized businesses to mid-market companies managing hundreds of thousands of monthly visitors. This remarkable traction is a testament to the vision and expertise of its leadership team.
CEO Yoav Oz brings a wealth of entrepreneurial experience as the co-founder and COO of Spotad, where he spearheaded global operations and successfully grew the company to acquisition by Ironsource. CTO Shauli Mizrahi, formerly VP of R&D at Browsi, brings deep technical expertise, having led the development of innovative SaaS tools for digital publishers. Together, Yoav and Shauli combine entrepreneurial drive and visionary product strategy with technical excellence, and are surrounding themselves with high quality talent across the organization to broaden their impact.
Rep AI has quickly established itself as a transformative force in ecommerce, addressing the industry’s most pressing challenges with a blend of advanced technology and a commitment to delivering measurable results. With an innovative platform, strong leadership, and a market ripe for disruption, Rep AI is poised to become a cornerstone of the ecommerce technology landscape.
We are thrilled to partner with the Rep AI team on their journey to revolutionize online shopping and deliver unparalleled value to their customers.