Shoppable virtual store platform Obsess raised $3.4 million in seed funding from VR- and retail-focused investors including venture reality fund WXR Fund and Jump Capital.
WHO: Launched in 2017, Obsess is a leading experiential e-commerce platform that enables brands to create interactive, shoppable online virtual stores and showrooms. Obsess uses virtual and augmented reality to digitize retail stores and showrooms, creating memorable, branded virtual experiences for consumers and wholesale buyers. These photorealistic, immersive online shops have been demonstrated to drive discovery, engagement, clickthrough, session duration, average order value, and conversion for leading retailers. As foot traffic in physical stores remains depressed in many regions, Obsess is giving retailers a way to extend pop-ups and other branded experiences to a broader audience online. Obsess has created fully shoppable virtual store experiences for leading retailers such as Coach, Charlotte Tilbury, Diesel, Party City, Sam’s Club, and Tommy Hilfiger.
IN THEIR OWN WORDS: “E-commerce shopping is surging due to the pandemic and savvy retailers know they need to offer a differentiated online experience to attract and convert customers, especially as we head into the holiday season,” said Neha Singh, founder and CEO of Obsess. “Our platform allows brands and retailers across the fashion, beauty, home, electronics and telecom categories to create visually appealing, immersive shoppable experiences that fundamentally change the way they engage with their customers.”
Charlotte Tilbury is using the Obsess platform to launch a virtual Beauty Secrets store exclusively on CharlotteTilbury.com. “We have always been a digital first brand; it’s at the heart of everything we do, so by launching this virtual store, we are truly operating as an omnichannel business and offering our customers an immersive, 360-degree experience whenever and wherever they come into contact with the brand,” said Charlotte Tilbury, the brand’s founder. “The Obsess platform has enabled us to seamlessly create a quick, easy and personalized way to shop for beauty, skincare and gifts with game-changing 3D digital innovation.”
“Experiential retail will be a huge driver of e-commerce growth in the coming years,” said Martina Welkhoff, Managing Partner at the WXR Fund. “The Obsess platform is like no other technology we’ve seen in this space. While the company is already working with top names in fashion, beauty, home goods and electronics, the potential to expand into other verticals is significant. We’re confident that Neha’s unique combination of retail industry and technology experience will enable Obsess to continue to grow under her leadership and that more retailers and brands will quickly realize how critical it is to offer a unique and innovative e-commerce experience.”
- Obsess closed a seed funding round led by Venture Reality Fund, WXR Fund, and Jump Capital, bringing its total funding to $3.4 million.
- The business pre-seed funding of $775,000 came from Lightspeed Ventures, Techstars, and Village Global, a new venture fund that includes money from entrepreneurs like Bill Gates, Mark Zuckerberg, and Jeff Bezos.
- Neha Singh, Obsess’s founder and chief executive, worked at Google and also served as head of product for Vogue.com for nearly four years.
Photo: via Charlotte Tilbury