In e-commerce shakeup, Israel’s Wix buys Israeli startup Rise.ai
Wix, the Israeli firm that has developed a do-it-yourself platform to create websites, is to buy Tel Aviv-based startup Rise.ai, a developer of gift-card and store-credit software that allows e-commerce firms to re-engage with their customers.
Tadmor Levy represented Rise.ai in its acquisition by Wix.com. The team comprised Elie Sprung, Yarden Navry, Boaz Feinberg and Shay Dolev.
Rise.ai was set up in 2015 by CEO Yair Miron, and has raised USD 454,000 to date, via seed money from angel investors, according to the Start-Up Nation Central database.
In 2020, Wix users processed over USD 5.4 billion in online transactions on the Wix platform, an increase of 126 percent over 2019. In addition, Wix eCommerce merchants saw an increase of 140% year over year growth in sales transactions in 2020 compared to 2019, the company said.
