Malachyte raises $10m: Evertrace spotted Ian Anderson 634 days earlier

Malachyte has raised $10m in seed funding. The company is bringing behavior-based personalization to online commerce.

Evertrace spotted Ian Anderson, co-founder of Malachyte, 634 days before the funding announcement.

Before the round

On 10 November 2024, Evertrace detected a stealth signal for Ian Anderson. Ian was in stealth, working on something new. That was 634 days before Malachyte's funding announcement.

What they’re building

Malachyte helps online retailers personalize the shopping experience using how visitors behave during a session. The platform is designed to make recommendations without depending on a customer having a long purchase history.

Co-founders Ian Anderson, Shivaditya Sinha and Sidd Motwani previously worked on recommendation technology at Spotify. They are applying that experience to consumer commerce.

The round

The $10 million seed round was co-led by Bessemer Venture Partners and Gradient Ventures, with participation from Harpoon Ventures. The funding supports development and expansion of Malachyte's commerce personalization platform.

Read the funding coverage →

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