On behalf of Shasta Ventures, I am beyond thrilled to announce that we led the $20M Series A of Threekit, the future of product visualization in ecommerce, where I will be joining the Board of Directors. We are incredibly fortunate to team up with such an experienced team in Ben Houston, Godard Abel, Joachim Klein and many others who are bringing together their combined decades of experience from the 3D graphics industry and excellence in enterprise selling.
The global ecommerce market has grown 250% over the past 5 years, yet it’s still only 14% of global retail purchasing. We live in a visual world; Instagram, Pinterest, Fortnite, Snapchat are the core of online engagement yet product visuals in ecommerce have not changed since the invention of the camera and the invention of the website. Product photography is incredibly expensive, and flat 2D website photos renderings of products rarely do the product justice.
Product manufacturers and vendors have the opportunity to provide better visual experiences to their customers online. Beyond the complexity, cost, and limitations of scaling of traditional product photographs, virtual product photography provides a quadruple benefit: decreasing cost, increasing flexibility, increasing the speed and size of the online sale, and providing a better customer experience. Threekit does a better job of laying the case for Virtual Product Photography here.
Secondly, as more expensive and considered purchases are moving online, purchasers are looking for better options to customize and visualize products before they buy them. Threekit’s product configurator enables detailed customization with a light weight technology deployment, and their features like “View in AR” enable customers to see considered purchases directly in their spaces. Again, increasing speed and size of sale. Customers like Crate & Barrel use Threekit for their couch configurator.
For anyone that has ever worked with a 3D model you will know this is a high promise and a tall order. 3D assets are very complicated. We are incredibly fortunate to partner with Ben Houston and team who has over 15 years of experience in creating scalable technology systems for 3D graphics. You’ve seen his work through the CGI software he built for Hollywood, used in films like Harry Potter and The Avengers, and he is a core contributor to open web standards for 3D.
“In Threekit, Ben and the team are building a platform solution in a fragmented market of one-offs, to enable product vendors of enterprise-scale to easily onboard and increase sales through better visual customer experience.”
In addition to Ben and his team, the go-to-market side of Threekit is being led by enterprise SaaS experts Joachim Klein, and Executive Chairman Godard Abel, who have seen and executed this story twice (!) before: first in BigMachines acquired by Oracle, and second in Steelbrick acquired by Salesforce. The entire go-to-market team including many others who I have met like John Kim, Marc Uible, Kelly Wilson, Todd Franiuk, Matt Seeger, Ash Zade, Slava Kovelman, Nancy Rizkallah, Phil Bredeson, Tony Lopez, early investor Matt Gorniak, and those I haven’t met (yet!), is an incredible group of people who bring decades of combined knowledge and experience selling products in the product configuration and sales acceleration space. Their level of operational sophistication and day to day execution blows me away. We are so lucky to get to work with them.
At Shasta Ventures, we pride ourselves on our deep understanding of the spaces in which we invest, and our hands on approach to helping our entrepreneurs navigate the daily challenges of startups. Our combined team focus on Smart Software enables us to bring experience and perspective from over 175 companies we have invested in over 15 years, to partner with entrepreneurs to quite literally change the game. We are thankful to Ben, Godard, Joachim and the entire Threekit team for partnering with Shasta on this journey and we look forward to working our hardest with them every single day.