Preezie, an e-commerce enablement platform focused on enhancing personalized shopping experiences, secured AU$5.5 million in Series A funding led by Touch Ventures to fuel its expansion and market leadership ambitions.

Target Company Overview

Preezie, co-founded by Michael Tutek and Quoc Nguyen, is focused on transforming the e-commerce purchasing experience by offering personalized and engaging interactions for consumers. With Michael’s extensive background in retail and sales, Preezie seeks to replicate the high-quality, customized experience found in brick-and-mortar stores within the realm of online shopping. Many e-commerce establishments currently deliver a basic, mechanical purchasing process characterized by impersonal search results, prompting Preezie to design an intuitive platform that guides users through tailored questions to achieve relevant search results.

This innovative platform is already integrated with several leading Australian retailers, including Baby Bunting and JB Hi-Fi, enhancing their customer experiences and successfully boosting conversion rates from approximately 2% to as much as 6%. By narrowing down search parameters and providing personalized product suggestions, Preezie aims to significantly enhance the online shopping journey and drive improved sales for e-commerce merchants.

Industry Overview in Australia

The Australian e-commerce landscape is thriving, characterized by a growing consumer acceptance of online shopping and a robust projected growth trajectory. The e-commerce market in Australia continues to expand, supported by an increasing