UAE-based Getbee raises $1.8M Pre-Series A
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UAE-based B2B software solutions startup Getbee has successfully raised $1.8M in its latest funding round. The Pre-Series A round observed participation from major key regional & global investors including Altitude Capital, B & Y Venture Partners, and +VC, as well as several strategic angels, including Magnus Olsson.
Founded in 2018, the UAE-based Getbee is a B2B software connecting brands to their online customers via live video consultations. Founded by serial entrepreneur Thea Myhrvold, Getbee is a pioneer in the relational economy, leveraging the marketability of human connection and the efficiency of digital commerce to create hybrid shopping experiences generating better returns. The software is also integrated with leading technology partners like Shopify and BigCommerce.
MENA startups offering B2B software solutions, integrating new-age technologies, machine learning, and AI, have observed a remarkable rise this year as most recently observed in our Q3 2021 MENA Venture Investment Report. One startup, Unifonic, raised MENA’s 3rd Megadeal of the year to drive a %5,000+YoY funding growth for KSA’s IT Solutions industry by Q3 2021. In the UAE, AI-empowered Leena AI, disrupting the HR space with seamless chat and voice technologies, raised the 5th highest funding round this year in a $30M Series B fundraise driving a 980% YoY growth in funding for UAE-based enterprise software startups.
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Getbee empowers sales experts to engage directly with consumers online, the way they would in a physical store, sharing product recommendations and completing a purchase via video. This new approach to online retail is showing unprecedented results on sales conversion rate, average basket size, and customer lifetime value. Getbee Founder and CEO, Thea Myhrvold highlighted “Throughout history, commerce has always been about people buying from people. With Getbee, we are bringing back this experience to the digital era. Our vision is to transform the way billions of people buy and sell online.”
Today, customers do not get the same level of service online as compared to offline. “We are building a new market standard by combining the simplicity of a call and the power of e-commerce,” added Martial Dahan, Getbee’s Head of Product. Getbee works with clients like Dolce & Gabanna, Lancôme, and Dermalogica. The software is ideally suited for segments that have a consultative sales process, such as luxury, furniture, mobility, wellness, and much more. “Think about the last time you bought something online. Any purchase where the “customer gets” to talk to a real person is where we create value for brands, and it’s exciting to see how this creates value across segments and verticals, “says Izabella Naessa, Head of Sales.
Getbee will leverage this round of funding to accelerate its market adoption with leading retail brands. “The trillion-dollar e-commerce and retail industries need to find new ways to connect, engage, and convert their customers, while consumers are looking for a different kind of shopping experience that is both virtual and more personalized,” said Gaith Yafi, Founder and Managing Partner of B & Y Venture Partners. “With Getbee, we are backing a high caliber team, led by an exceptional and passionate founder, that is ideally positioned to capitalize on these growing trends.” Yafi concluded.
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