Klevu announced a $12 million investment round backed by Alfvén & Didrikson and existing investors

Klevu, a Helsinki, Finland-based company building a business around a search engine for e-commerce, announced that it secured funding of $12 million.

The money was raised from investors led by Alfvén & Didrikson and included contributions from EVLI Growth Partners, Jerry Pruttz Holding, and Jonas Dromberg.

The funding will further accelerate Klevu’s global expansion and product innovation capabilities. 

Klevu, founded in 2013 by CEO Nilay Oza, Niraj Aswani, and Jyrki Kontio, developed an advanced discovery engine for online retailers helping clients to increase conversions, drive sales and improve shopping experience.

The company works with retail customers as they are having aceess to a platform agnostic personalisation discovery suite that is easy to integrate, optimise and maintain. The platform is in use by more than 3,000 online stores globally, including Puma, Yamaha or Toys “R” Us.

Klevu has 70 employees distributed in the UK, USA, India, Finland and Sweden and has previously raised almost $9 million.