Wix.com acquires Israel-based tech startup Rise.ai to add gift cards to its eCommerce platform
Wix.com, an Israeli-based eCommerce company that helps small businesses build and operate websites, announced on Wednesday it bought Israeli startup Rise.ai to extend its platform to include gift and loyalty cards and rewards and referrals. The terms of the deal were not disclosed.
Wix said the acquisition of Rise.ai will add to the tools in its Wix eCommerce platform and help merchants better engage with customers.
Founded in 2015 by CEO Yair Miron, Rise.ai is a strategic re-engagement solution that provides brands and retailers with a unique currency of their own. Powered by Artificial Intelligence, Rise.ai helps merchants grow by retaining customers and increasing their average spending.
The acquisition of Rise.ai will also provide Wix eCommerce merchants with its own fully native customer re-engagement solution. Wix eCommerce merchants will be able to easily access the full suite of tools for their Wix eCommerce stores.
These tools will significantly help them grow long-term customer value by increasing customer retention through loyalty programs. Strong customer re-engagement tools help increase order frequency, grow AOV (Average Order Value), drive repeat sales, and build customer relationships by providing value throughout the customer journey.
“We are excited to expand our offering and services as part of the Wix eCommerce strategy,” said Arik Perez, Head of Wix eCommerce. “By providing merchants with more native tools, we can help them grow long-term customer value and revenues to build their businesses and keep optimizing and increasing profitability. Rise.ai is considered to be the best solution of its kind in the market, and the integration will enable merchants to easily manage and maintain customer engagement tools, ultimately leading to increased loyalty and revenue.”
The Rise.ai solution will support Wix merchants in all supported countries and currencies, Wix said. Miron said that it powers tens of thousands of leading brands with loyalty and re-engagement solutions to grow their businesses.
“Customer retention has become the top priority for eCommerce brands worldwide, as acquisition costs continue to spike,” said Yair Miron, founder and CEO of Rise.ai. “Since our founding, we have powered tens of thousands of leading brands with loyalty and re-engagement solutions to grow their businesses. We are now thrilled to join Wix and bring Rise.ai to hundreds of thousands of online stores around the globe and help them rise.”