Peel's tools help online sellers analyze sales data and improve customer retention. The company's Magic Dash product uses AI to explain the most important points from your data. Peel primarily works with his Shopify sellers and can integrate with apps across the tech stack like Klaviyo and Recharge. The company's customers include makeup brand Jones Road His Beauty, cookware brand Callaway, and T-shirt brand True Classic.
Founded in 2019, Peel raised $5.3 million in a seed round led by Lerer Hippeau in September 2021. Other investors included Eniac Ventures, Accomplice VC, and Vinyl Capital.
Financial terms of the deal were not disclosed. According to LinkedIn, his CEO and co-founder of Peel, Nicolas Grasset, is currently a product director at Shopify, and the Peel app is still available on the Shopify App Store. A Shopify spokesperson declined to say whether the app will continue in its current version.
“Working with Shopify's Peel Insights team will help us power our insights capabilities for millions of merchants,” they said.
Shopify has made several acquisitions in the past.
In 2021, it brought on a team from AR startup Primer to work on AI and spatial computing at Shopify. And in 2018, the company quietly acquired Swedish social shopping app Tictail, whose founders would later play a major role in building Shopify's shop app.
The company has also shown interest in e-commerce analytics in recent years. In February 2023, he made a strategic investment in Triple Whale, which centralizes metrics across the platform into one dashboard.
Any tips? This reporter can be contacted at: mstone@businessinsider.com, mlstone@protonmail.comor use your non-work phone on the secure messaging app Signal (646) 889-2143.
