Zycada Emerges From Stealth With $19 Million in Funding to Deliver Fastest Online Shopping Experience in the World
Zycada’s innovative bot technology boosts e-commerce speeds 10X faster than Amazon, dramatically increasing online shopping revenue for retailers. Company names industry veteran James Brear as CEO, to lead company in their next phase of growth
Zycada emerged from stealth to enable the fastest online shopping experience in the world. Zycada’s new approach improves Time to Interact (TTI) speeds 10X greater than Amazon, resulting in dramatic gains in online retail revenues and empowering merchants to achieve faster online shopping experiences than Amazon for the first time.
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As part of the launch, Zycada announced it raised $19 million in total funding to date, with Kholsa Ventures leading the investment and Cervin Venturers and Nordic Eye Venture Capital participating. The funding will accelerate product development further and expand the go-to market efforts. In addition, industry leader Preetish Nijhawan, Managing Partner at Cervin Ventures and co-Founder of Akamai Technologies, has joined Zycada’s Board of Directors. Zycada also has appointed James Brear as President & CEO. Before joining Zycada as CEO, Brear was President & CEO of Veriflow, which was sold to VMWare in August 2019.
The e-commerce market will expand rapidly in the coming years, especially as public health concerns radically reshape consumer behavior and further accelerate the transition from brick and mortar stores to online shopping. Even before the COVID-19 pandemic, online sales were forecast to grow from $3.5 trillion in 2018 to $7 trillion in 2024.
Today, there are 12-24 million online retailers globally, with many of these online retailers lacking the infrastructure and resources to deliver e-commerce sessions that are as quick and reliable as Amazon’s. Even large e-retailers struggle to match Amazon’s speed and market dominance. TTI is a critical metric for gauging e-commerce performance, measuring how long it takes for the interactive elements of a page (such as a “buy now” button) to load.
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Zycada shatters the status quo with a platform that pushes TTI below 500 milliseconds, significantly outpacing Amazon. By leveraging Zycada’s innovative new approach, online retailers gain substantial improvements in conversion rate, revenue per session and total revenue uplift. Moreover, Zycada is simple to use and works right out the box, enabling organizations to quickly transform their online shopping portals.
“The e-commerce market has been growing exponentially for decades. The current pandemic will permanently alter consumer behavior in a way that will only hasten that growth. However, for the vast majority of e-retailers to capture more of this burgeoning market, they need to overcome massive speed and performance limitations,” said James Brear, CEO, Zycada. “Zycada has introduced an innovative approach that eliminates these bottlenecks by employing the scale and power of bot technology in a way that’s never been done. As a result, we’re not just leveling the playing field between e-retailers and Amazon – we’re helping them rise above Amazon.”
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