$3.6 Million & Oversight
Raised $3.6 million, growing between 50% and 300% annually, and profitable
An Iterate belief is that we’ll be unbiased when making technology recommendations to our Enterprise Members. When working with Members like Ulta, Jockey, Party City, GSK, CHANEL and others, we recommend technologies based not on a celebrity CEO, not on the amount of money a startup has raised, not on the prestige of a startup’s investors. We won’t believe that an incumbent owns the best solution either. Instead, Iterate’s recommendations are based on the quality of a technology and ROI expectations.
Iterate has unique governance thanks to not raising money from the venture. For instance, Iterate is set up to distribute a portion of profits to employees and investors. (Venture backed companies, typically, can’t do that.) Iterate is not required to find an exit. (Venture backed companies can’t ignore the exit especially as they approach the 7, 8, 9 year marks.) Iterate can turn on a dime – as we did to build Signals and Interplay for Ulta and another Member. (Venture backed companies can find it difficult to gain investor and board alignment when management feels a need to pivot.)
Strategic Investor
Ulta Beauty – a top retailer with $6B in revenues, a 20% growth, and $20B market cap when Ulta invested (8/2018).
As part of Ulta’s investment, Ulta and Iterate co-founded CoDE (the Center of Digital Experience) which operates out of Silicon Valley. Non-competitive companies can ask about joining (contact CoDE@iterate.ai).
How Ulta Is Harnessing Digital Innovation to Modernize the Customer ExperienceBy Jamie Grill-Goldman in RIS (Retail Information Systems) - 12/10/2018
Iterate helps large companies harness digital innovations and will allow Ulta to tap into technology talents by curating technology partnership opportunities. The company will enable Ulta rapid prototyping and gives the retailer access to the startups most suited to Ulta’s needs.
We are lucky. If you want to learn more about our structure, write us: investors@iterate.ai
Advisors
Todd Sherman
(Amazon 3rd Party Marketplace, MIT)
Doug Aley
(Amazon, Zulily, Atomic, Pact, CEO Paravision (Ever.ai), CEO Minted.com, Level Access, Stanford, Harvard MBA)
Igor Shoifot
(Adjunct Professor at UC Berkley and NYU, Ph.D., TMT Investment(Wrike, Scentbird, Peekyou, Wanelo +), DepositPhoto, Fotki)
Nicola Matthews
(Brand Directors, Fasion at Petland, Commercial Director at Karen Millen)
Veronika Sonsev
(Partner at chameleon, Cofounder CommerceNext, Co-founder/Chairman at WomeninWireless, Contributor at Forbes)
Jeffrey Eisenberg
(Marketing optimization expert, 2x NY Times best selling author, Investor, speaker and advisor.)
Bryan Eisenberg
(Keynote speaker, Conversion Rate expert, best selling author Be Like Amazon.)
Lou Kerner
(Crypto expert, Flight VC, The Social Internet Fund, the first private company Analyst on Wall Street at Wedbush Securities, MD at Wedbrush, Goldman Sachs, Stanford University MBA)
Jonathan Abrams
(founder of Friendster, Founders Den, Nuzzel)
