AI-powered ecommerce recommendation engine Constructor nabs $55M

The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Constructor, a San Francisco, California-based ecommerce personalization startup, today announced that it raised $55 million in a series A round led by Silversmith Capital Partners. The funding, which brings the company's total raised to $61.5 million, will be put toward product development, hiring, and go-to-market efforts, according to CEO Eli Finkelshteyn. Online commerce conversions are well behind in-store -- the average online shop sees less than 3% in conversions. But even though $4.2 trillion was spent on ecommerce platforms in 2020 alone, few ecommerce retailers have invested in a digital merchandising strategy.