Slyce is a startup what was founded in 2012 and specializes in providing visual search and recognition services. Slyce, which is based in Toronto, was officially launched in2013 and is a standalone app that allows users to search for items that they see anywhere and then buy them.
The company has also partnered up with retailers to integrate the app’s functionality into their apps/websites and allow shoppers to search and get items from the respective stores. Slyce has partnered with a number of high profile retailers that are ranked in the top 10 list including Neiman Marcus.
At the time of its release, Slyce was compared to Amazon Flow, an app that Amazon launched that was able to detect products from pictures and search for them to see if they were in the company’s inventory. But Amazon Flow had one catch, the product had to be in some form of packaging so that it could be identified; Slyce, on the other hand, is not limited to this and allows users to take pictures of items they see and search for it. Flow has since been integrated into Amazon’s main app, and when Amazon released its Fire phone, it came with Firefly a feature that allows users to scan and search for things in real life.
Slyce has rolled out number of innovative features including Snap-To-Buy, which is added to retailers’ websites and the Visual Relevancy Engine which is used to compare different products. The company has also said that its technology can identify and analyze products from pictures on social media sites.
The founders said that they came up with the idea after they saw firsthand how people shopped during the holiday season of2011. Nearly 40% of the shopping that takes place during the season is done through mobile; to them this signaled the shift that was inevitably going to happen, mobile would influence everything. . Erika Racicot and Cameron Chell initially had a business consultancy called the Business Instincts Groups, and Slyce was founded from it.
Cameron Chell has had previous experience as a startup founder and started a number of companies including FutureLink, one of the pioneers of cloud computing and UrtheCast, which is working on streaming live video feed from the International Space Shuttle.
Slyce raised $6million in 2013 and raised $10mfor its Series A early last year. Slyce has acquired a number of companies which has allowed it to bolster its products. In 2013, they acquired Hovr.it which was in the visual tech space. Last year, Slyce acquired Israeli startup, Buycode which had developed the Pounce app for $5 m in cash and incentives.
Slyce has expanded and houses offices in a number of locations including Minnesota, Nova Scotia and Calgary.