CommerceHub Inc., a provider of online retail software, stated today that it has expanded its artificial intelligence capabilities by acquiring Cadeera, a U.K.-based firm.
The agreement was announced by the business along with a significant rebrand. After more than 20 years of business under its existing name, CommerceHub will now operate under the moniker Rithum Holdings Inc.
About 40,000 retailers and product manufacturers use Rithum’s platform, which helps them run their e-commerce businesses. The company claims that over $50 billion worth of online transactions are handled by its platform annually. For its clients, Rithum also oversees an annual advertising budget of more than $500 million.
Retailers that sell goods they don’t keep in their own warehouses engage in dropshipping, using the company’s platform to do so. Rithum gives users access to a catalog of goods stored in the logistics facilities of different suppliers. Retailers can locate products that enhance their current product line, offer those products on their website, and delegate the delivery procedure to Rithum.
The platform of the software provider also claims to simplify logistics for goods providers. These businesses can also utilize a tool known as a product feed management solution. It automates the process of updating e-commerce websites with product details and availability data from a supplier’s backend inventory database.
Rithum provides several other capabilities as well, such as an AI-driven tool that can start e-commerce advertising campaigns and figure out how to make them more successful. The company plans to expand its AI capabilities with the startup acquisition it announced today along with its rebranding.
Furniture and interior design retailers can purchase machine learning software from Cadeera, a U.K.-based company. Thanks to its technology, so-called shoppable marketing images can be produced. A merchant can use Cadeera’s software to automatically generate a list of every item displayed in a photo and allow customers to place orders with only a few clicks.
According to the company, its AI models are also well-suited for producing shopping recommendations. According to Cadeera, the models identify comparable products by analyzing the style of the furniture photographs a customer observes while perusing an online retailer.
Metadata management is the third area of concentration for the organization. Retailers frequently add metadata, which includes details about the products and their prices seen in a photo, to their product photographs to make them easier to arrange. Inventory management teams can save time by having this information automatically added by Cadeera’s AI models.
Rithum Chief Technology and Product Officer Aarthi Ramamurthy stated, “With this new platform, AI will accelerate Rithum’s disruption of commerce by automating a number of processes across the e-commerce lifecycle – enabling retailers and brands to meaningfully reduce operating expenses and increase speed-to-site for new products.”
Rithum plans to develop solutions that can automatically generate e-commerce marketing content and make buying recommendations using Cadeera’s technologies. The business promised to “continue to invest in this area significantly” in order to increase the artificial intelligence capabilities of its platform. This suggests that Rithum, which has acquired a number of companies recently, might purchase more AI suppliers to accelerate its development schedule.