TechCrunch recently featured Rubikloud's successful round of funding, which raised $37 million in investment that was led by Intel Capital. Rubikloud, co-founded by UBC Sauder alumnus Kerry Liu (BCom 2007), is an artificial intelligence company that aims to spur technological advancement and modernization in retail.
"The idea is to use the applications [Rubikloud] has provided to help retailers improve promotions and better understand their customers, while giving them the ability to build their own customized applications as well," reported Ron Miller of TechCrunch.
The funding round also included new investors Inovia Capital and OTEAF along with previous investors Horizons Ventures and Access Industries, bringing total investment in Rubikloud to $47 million.
Miller noted that this investment serves as a gateway for Intel Capital to combine its Internet of Things expertise with Rubikloud's intelligent automation and data processing capabilities. Together, they aim to address three key areas of retail: the supply chain, the corporate front office and inside stores.
The article further highlighted Rubikloud's suite of cloud tools that facilitate intelligent automation of retailers in Canada, especially in light of stiff competition from e-commerce giants like Amazon. For instance, its 'promotions tool and customer lifecycle manager' helps retailers provide personalized promotions and track customers through the entire retail lifecycle. The platform also offers RubiOne, a set of machine learning tools and libraries designed to help retailers build their own machine learning apps on top of the Rubikloud data set.