VETTED RAISES $15M TO ENSURE CONSUMERS BUY THE BEST PRODUCTS AT THE BEST PRICES

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SAN FRANCISCO, August 2, 2022 /PRNewswire/ — Vetted (formerly Luster) today announced the launch of its AI-powered product search engine, alongside a $15 million Series A investment round led by global software investor Insight Partners. The round included participation from existing investors Index Ventures, Bling Capital and Golden Ventures, as well as angels including Shiva Rajaraman, the former vice president of commerce at Meta.

Verified makes it easy for shoppers to discover the most recommended brands and products for their needs – based on reviews from trusted sources on platforms like Reddit, YouTube, and other reputable expert sites.

“We spend more $100 billion shopping online but getting the best value for money has become an overwhelming and frankly anti-consumer experience,” said Stuart Kearney, Co-founder of Veted. “Shoppers shouldn’t have to spend hours browsing through indistinguishable products littered with thousands of ad-infested sites loaded with fake reviews and unreliable information. That’s why we’re building Vetted. Our users receive a smart guide aligned in their best interests, transforming e-commerce into a simple and trustworthy experience that everyone wants, especially today, where every dollar counts.”

Powering Vetted is state-of-the-art machine learning that replicates the search process of a savvy buyer. It automatically vets reliable product data and analyzes everything from price history, ideal use cases, and reviewer consensus – just like a careful shopper would – to rank the best products based on suitability. . Verified search results even show users Why a given product has been selected, making it easy for consumers to purchase with confidence. Verified is also available as browser extensionallowing shoppers to take its search engine with them wherever and whenever they shop.

“Over 330,000 shoppers already trust Vetted, with users buying our recommendation in any given category 70% of the time,” said Hanna Jung, Verified Vice President of Marketing. “They are also asking for help beyond our original focus on consumer electronics. With this additional funding, we are excited to significantly expand our product and retailer coverage to further empower buyers in all their purchase needs.

“We are delighted to support Stuart and the Vetted team in their mission to provide a shopping experience where consumers find the products best suited to their needs with minimum effort and maximum confidence,” said Thilo Semmelbauer, managing director of Insight Partners. “The opportunities for disruption in e-commerce are endless, and Vetted is well positioned to be a dominant player.”

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About verified

Vetted (formerly Luster) is a prime product search engine whose mission is to make shopping the easiest and most reliable experience possible. For more information, visit https://vetted.ai/ or follow us on Twitter @vetted_ai.

About Insight Partners

Insight Partners is a global software investor that partners with high-growth technology, software and internet startups and ScaleUp companies that are driving transformative change in their industries. From February 24, 2022the closing of the company’s recent fundraising, Fund XII, brings Insight Partners’ regulatory assets under management to more than $90 billion. Insight Partners has invested in over 600 companies around the world and has seen over 55 portfolio companies complete an IPO. Based at New York CityInsight has offices in London, Tel Avivand Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with hands-on, hands-on software expertise to drive long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to their IPO. For more information about Insight and all of its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

SOURCE Verified

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