As the leading provider of AI-powered product discovery and search solutions for ecommerce companies, Constructor has marked a banner year in fiscal 2023. From doubling its revenue and expanding globally to releasing innovative generative AI offerings, Constructor has cemented itself as a trailblazer helping retailers, brands, B2B distributors and more turn product discovery into an engaging, personalized and revenue-driving experience.
Surging Growth Trajectory
With ecommerce more competitive than ever, companies are recognizing the need to transform product discovery from a transactional search into a personalized journey that delights shoppers and seals more sales. Constructor’s commerce-focused platform, fine-tuned to boost critical ecommerce metrics, is proving itself the go-to solution.
Over fiscal 2023, Constructor realized explosive growth:
- Doubled revenue for the third consecutive year, with annual recurring revenue (ARR) from subscriptions and contracts doubling as well
- Signed major brands across verticals like fashion, DIY, healthcare and more, including Under Armour, Sephora, Maxeda, Curtsy and Kmart Australia
- Expanded geographic footprint, especially across EMEA, with new hires and customers
- Grew headcount by 45% to better serve global customers across departments like engineering, marketing and customer success
“We owe our success to our phenomenal customers and teams worldwide who believe in our vision,” said Constructor CEO Eli Finkelshteyn. “It’s rewarding to see how our platform boosts metrics for retailers and the experiences for their buyers. We’ll continue innovating to drive further value.”
Generative AI Unlocks New Possibilities
Constructor realizes the amazing potential of generative AI to provide ecommerce companies with even more tailored, engaging search and discovery capabilities. With the launch of its AI Shopping Assistant (ASA) last fiscal year, Constructor became the first product discovery provider to integrate conversational, generative AI.
ASA allows shoppers to chat with a virtual assistant that understands their purchase history and preferences to deliver ultra-personalized recommendations. Meanwhile, ASA remains anchored to real-time inventory data so suggestions drive conversions and revenue.
Constructor also introduced Attribute Enrichment, which automatically fills gaps and corrects errors in product catalog information. By exposing more accurate data across catalogs, sellers get their full range of inventory surfaced to buyers.
Both innovations leverage Constructor’s special sauce – its immense trove of commerce data and personalization algorithms. Early results show 10% website revenue lifts, 97%+ product attribute accuracy and beyond. Constructor will continue pioneering new applications of generative AI in ecommerce discovery.
Look Ahead: Momentum Carries into New Year
With generative innovations in the works and core platform offerings constantly improving, Constructor heads into fiscal 2024 on an upswing. Its solutions already drive hundreds of millions of personalized search interactions for customers daily.
Major analyst firms have taken note of Constructor’s technology and satisfied customer base. Both The Forrester WaveTM and G2 name Constructor a top commerce search and discovery solution.
“It’s still day one in our vision of transforming product discovery,” Finkelshteyn said. “Our amazing team is hungry to push boundaries and create more value. We can’t wait to see what the next year brings.”
As Constructor’s banner year shows, the company is already realizing immense success in its mission. But for Constructor, this stride is just the springboard to catapult itself to new heights – and bring the ecommerce world along for the ride.
Tags:
constructor, product discovery, ecommerce search, generative ai, ai shopping assistant, personalized search
