Slyce

Slyce Inc.
Public
Traded as (TSXV:SLC)
Industry Visual search recognition technology
Founders
  • Cameron Chell
  • Erika Racicot, COO
Headquarters Toronto, Ontario, Canada
Area served
 International
Key people
 Mark Elfenbein, president, director and CEO
Products
  • Snap-to-Buy mobile app capabilities
  • Physical Advertising Recognition app capabilities
Services
  • Visual Relevancy Engine
  • Tag and Display
Parent Business Instincts Group
Website slyce.it

Slyce Inc. is a visual search and recognition company headquartered in Toronto. The company's visual recognition technology was launched in February 2013.[1] Slyce is traded publicly on the TSX Venture Exchange market.[2] Slyce developed visual search technology that can identify products based on a picture and allow the user to purchase the item on their smartphone.[3] The company has partnered with six of the top 20 retailers in the United States to operate its technology as a mobile application,[2][4][5] including Neiman Marcus.[6]

History

Slyce was founded by Cameron Chell and Erika Racicot[7] in January 2012 through their business consulting firm that they founded together, Business Instincts.[8][9][10] The company was originally located in Calgary, Alberta, but later moved the headquarters to Toronto, Ontario with additional offices in Calgary, New Waterford, Nova Scotia and Minneapolis, Minnesota.[11]

Slyce's visual product recognition technology was launched in February 2013 at the Mobile World Congress in Barcelona.[1] The company had raised $6 million in financing by December 2013 and acquired Hovr.it, a visual search technology startup company.[8]

By early 2014, Slyce had generated $10.75 million in its Series A round of funding.[12][13] In April 2014, Slyce announced it was going public through an amalgamation agreement with Oculus Ventures.[12][14] Later in the year, Slyce acquired Tel Aviv-based BuyCode, a mobile app development company, for its Pounce shopping app technology.[15][16] Slyce also acquired Minneapolis app developer Drivetrain Agency.[14] After the acquisitions, Drivetrain CEO Dan Grigsby joined Slyce as chief technology officer,[2] and BuyCode CEO Avital Yachin joined as chief product officer.[15]

Platform

Slyce develops visual search and recognition technology for larger retailers to use on their brand's websites and mobile applications.[13] The company works with six of the top 20 retailers in the United States,[17][18] including Neiman Marcus.[19][20] The visual search technology that Slyce developed uses pictures of products to determine what kind of product it is and then analyzes the subject based on a schema according to the type of product and its attributes. Slyce is often referred to as "The Shazam for shopping."[13][21][22]

Products

Slyce has produced several products and services, including the Snap-to-Buy product recognition platform. Snap-to-Buy can be integrated into a retailer's existing website to identify products. The application takes the user to the website to purchase identified products.[5][15] Slyce has also developed visual search recognition technology, such as the Visual Relevancy Engine, which compares the attributes of a product and delivers products that are similar, and a service that can identify products from pictures on social media sites like Facebook or Instagram.[22][23]

References

  1. 1 2 Tom Emrich (21 May 2013). "Canadian Startup Slyce Raises $3.75 Million in Oversubscribed Seed Funding Round". Tech Vibes. Retrieved 2 January 2015.
  2. 1 2 3 Katharine Grayson (21 October 2014). "App developer Drivetrain sold to image-based shopping tech company Slyce". Minneapolis/St. Paul Business Journal. Retrieved 2 January 2015.
  3. ↑ Erika Racicot (16 December 2013). "Slyce’s visual search platform cuts down on the steps from see-to-buy for retailers". StartUp Beat. Retrieved 2 January 2015.
  4. ↑ Ronald Barba (7 April 2014). "Can Slyce Take Down Amazon Flow in Image Recognition Shopping?". Tech Cocktail. Retrieved 2 January 2015.
  5. 1 2 Ivor Tossell (17 March 2014). "Slyce lets users instantly identify and purchase items using smartphones". The Globe and Mail. Retrieved 2 January 2015.
  6. ↑ Candice So (28 October 2014). "Slyce and Neiman Marcus partner for fashion-forward visual search". IT Business. Retrieved 2 January 2015.
  7. ↑ Jenn Egroff (27 October 2014). "Launch Party "Where Are They Now?!" – Slyce". Startup Calgary. Retrieved 2 January 2015.
  8. 1 2 "Toronto-Based Slyce Raises $6 Million To Help You Shop". Serious Startups. 13 December 2013. Retrieved 2 January 2015.
  9. ↑ Amy Dusto (25 June 2013). "Shopping with a mobile device’s camera". Internet Retailer. Retrieved 2 January 2015.
  10. ↑ Danny Bradbury (25 February 2013). "Why some entrepreneurs are abandoning the U.S. to set up shop in Canada". Financial Post. Retrieved 2 January 2015.
  11. ↑ "Careers". Slyce. Retrieved 2 January 2015.
  12. 1 2 "Canadian Startup Turns to TSX After $11 Million Raise". Tech Vibes. 22 April 2014. Retrieved 2 January 2015.
  13. 1 2 3 Seth Fiegerman (4 March 2014). "Is a True Shazam-for-Shopping App Within Reach?". Mashable. Retrieved 2 January 2015.
  14. 1 2 Nick Waddell (23 October 2014). "Slyce is one of my top picks, says StoneCastle’s Campbell". Cantech Letter. Retrieved 2 January 2015.
  15. 1 2 3 Sarah Perez (16 September 2014). "Visual Search Company Slyce Buys Pounce For $5M To Build "Amazon Firefly" For The Rest Of Retail". TechCrunch. Retrieved 2 January 2015.
  16. ↑ "Slyce Acquires BuyCode for US$5M". FinSMEs. 17 October 2014. Retrieved 2 January 2015.
  17. ↑ Rebecca Thomson (9 October 2014). "Start-up of the week: Visual search platform Slyce". Retail Week. Retrieved 2 January 2015.
  18. ↑ Deborah Tuff (30 October 2014). "Introducing Slyce, an impulsive buyer's dream". KSHB. Retrieved 2 January 2015.
  19. ↑ Danielle Abril (28 October 2014). "Neiman Marcus partners with startup for 3D visual fashion search". Dallas Business Journal. Retrieved 2 January 2015.
  20. ↑ Ian Henry. "Slyce Partners with Neiman Marcus with 'Snap. Find. Shop'". Betakit. Retrieved 2 January 2015.
  21. ↑ Deborah Tuff (30 October 2014). "Introducing Slyce, an impulsive buyer's dream". ABC7 Denver. Retrieved 2 January 2015.
  22. 1 2 Ashley Paintsil (27 May 2014). "Meet Slyce: The ‘Shazam for Fashion’". FashInvest. Retrieved 2 January 2015.
  23. ↑ Natasha Baker (17 May 2014). "Apps aid fashionistas in tracking down desired clothing, shoes". Reuters. Retrieved 2 January 2015.
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