Financial backing to fuel Slyce growth and product development
Online PR News – 13-January-2017 – Philadelphia, PA – Slyce Inc. announced it had been acquired by Anzu Partners, an investment firm based in Washington DC. As part of the transaction, Slyce received a significant infusion of growth capital, which it will use to enhance its industry-leading visual search capabilities. Slyce will also become a private company, having previously been listed on the Toronto Venture Exchange (TSX-V).
Slyce’s experienced management team will remain in place. Current CEO Ted Mann will lead the newly private Slyce, and Adam Turkelson will continue as Chief Technology Officer. Steve Lovell will continue as Chief Revenue Officer, leading Slyce’s visual search services and enterprise relationships. Nicole Harris will become Chief Operating Officer as well as leading Slyce’s consumer applications, including SnipSnap and Craves, and Kyle Martin will be Chief Product Officer.
“Slyce is committed to delivering the best visual search solution for retailers and industrial customers, and we are excited about the prospects for growth in 2017,” commented Mann. “The new investment will enable major product improvements to deliver high quality results much faster to users by integrating more machine learning and artificial intelligence into the technology solution.”
“Slyce has developed an industry-leading platform for visual search,” added Whitney Haring-Smith, Managing Partner at Anzu Partners. “Slyce has driven great results for its current customers – deepening relationships with consumers – and we are excited to partner with the Slyce management team on the path ahead.”
The senior management team is available to answer any questions that current customers or partners may have about the transaction. Email addresses will remain the same after the transaction.
Slyce, based in Philadelphia, PA, delivers sophisticated visual search technologies and is currently focused on enabling a powerful sales channel for major retailers and their customers. Consumers, wherever they are, can conveniently engage with retailers by taking pictures of desired products using their mobile devices, thereby initiating the visual search service with near-instant product recognition capability. Slyce delivers its technology both as a white-label visual search platform and as a suite of consumer mobile apps. Slyce’s technology is used by large retail brands such as Best Buy, Neiman Marcus, Urban Outfitters, JCPenney and Home Depot.
About Anzu Partners
Anzu Partners is an investment firm in Washington, D.C. The firm invests broadly across industrial, technology and consumer segments with a focus on innovative companies making key strategic transitions, including mergers, acquisitions, new market entries, and divestitures. Anzu has a strong focus on active support for portfolio companies after the initial investment. For further information, please contact: Whitney Haring-Smith, Managing Partner, at firstname.lastname@example.org.