Fenix Commerce acquires Machine Learning company Ocurate to accelerate AI capabilities

Fenix Commerce will expand its AI & ML capabilities to generate even more incremental revenue to its customers.

SAN JOSE, CA, October 18, 2024 /24-7PressRelease/ -- Fenix Commerce, the pioneer technology platform for increasing eCommerce conversion rates with real-time delivery dates, has acquired the Machine Learning company Ocurate based in Silicon Valley. The merger will extend Fenix AI and data capabilities to increase the incremental value Fenix Commerce already delivers for its customers today.

Ocurate's capabilities to surface granular individual-level event stream data in a privacy-first manner and its track-record in building real-time ML for revenues paired with Fenix' capabilities of processing logistics, shipping and inventory data enables a host of additional functionalities poised to further increase incremental conversion rate and unlock increasing average order value, while reducing shipping costs and ultimately maximizing ROI for Fenix' customers.

"Together, our goal is to unlock even more incremental revenue for our customers." Akhilesh Srivastava, CEO of Fenix Commerce"

"Ocurate has a reputation for building advanced Machine Learning frameworks and we share the belief that ML and real-time event stream data taken together are key for maximizing ROI through customer interventions", said Akhilesh Srivastava, CEO of Fenix Commerce. "Together, our goal is to unlock even more incremental revenue for our e-commerce customers."

Fenix Commerce is the market leader in estimated delivery dates, smart order routing, small parcel carrier rate shopping, and return logistics. Together with Ocurate, Fenix Commerce will enhance these features and add new capabilities to its product mix designed to increase not just conversion rates, but also the average order value of each transaction.

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"Fenix Commerce is on a mission to enable better commerce, a proven market leader for delivering incremental revenue and profitability for its customers. Bringing together revenue data, inventory data, shipping data, carrier events data, and event stream data with foundational ML ultimately gives us the unique ability to maximize ROI, while allowing the retailers and shippers to improve their profit margins", said Tobi Konitzer, CEO of Ocurate. "We have a huge opportunity to leverage our experience in data and ML to further increase the ROI Fenix already provides to its customers today."

Fenix Improves Conversion Rate, Profitability.

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Fenix improves Consumer Online Shopping Experience from Discovery to Delivery and Returns while Increasing Conversion Rate, Revenue, and Profitability while Reducing Shipping Spend and Customer Support Costs for Retailers, Brands, and Shippers.