iRecommend Software, a Tulsa-based technology company developing a next-generation recommendation engine for retail, recruiting, real estate, entertainment, and healthcare industries, announced the closing of a $1.85 million Series A investment round.
Built on artificial intelligence, deep learning, and a proprietary algorithm to leverage available big data from thousands of data feeds, iRecommend is able to generate the most highly-relevant, user-specific recommendations across retail, recruiting, real estate, entertainment, and healthcare industries. Simply put, iRecommend provides the right product to the right person at the right time.
The funding was led by i2E, Inc. with participation from co-investors Warren Foundation (Tulsa), Falcon Partners (Houston), and other strategic investors. The Series A round will be used to expand global sales and marketing efforts, complete a large online retail client integration, and commercialize SaaS subscription modules for real estate and recruiting industries.
The investment builds on an exceptional year for iRecommend that included the formation of the company from a four-year R&D, the beta release for recruiting and real estate business modules, and beta testing for a large online retail client to provide recommendations for its 40M+ users.
“While the term ‘recommendation engine’ is relatively new, we experience recommendation engines every day when we shop ‘recommended deals’ on Amazon, watch ‘matched’ movies on Netflix, or receive ‘recommended listings’ from Zillow. While the great majority of companies use limited data points to make recommendations, iRecommend provides much deeper, current data for our clients, allowing our AI Agent, Sophia, to provide superior, highly accurate, and personalized recommendations for each user,” said John Morad, Founder & CEO of iRecommend. He added, “This round of investment plays a significant part in our strategic plan, allowing us to expand marketing and sales globally.”
About iRecommend Software
Founded in 2016 by John Morad and Mark Allen, iRecommend provides businesses with a superior recommendation engine across multiple industries. iRecommend technology emerged from four years of multi-disciplinary research and development efforts in AI and machine learning fields. The company’s AI technology is changing the way business provides personalized products and services to end consumers by unleashing the full potential of big data and artificial intelligence.
About i2E, Inc.
With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses. i2E has more than $50 million of investment capital under management and receives state support from the Oklahoma Center for the Advancement of Science and Technology. www.i2E.org