SUNNYVALE, Calif., Aug. 31, 2020 /CNW/ -- Commerce.AI is excited to announce that it has been selected as a 2020 TiE50 Winner in the prestigious TiE50 Awards Program. This 10-year-old awards competition is a program of TiEcon, the world's largest conference for tech entrepreneurs. Commerce.AI was recognized for its leadership in AI solutions for commerce.
"We are excited to be recognized as a TiE50 winner. I would like to congratulate our team for their hard work and dedication. I would also like to thank our customers for their trust in us. With online commerce accelerating at an unprecedented rate, it creates a unique opportunity for businesses to use AI to tap into the data generated online. We are at the forefront of the AI revolution in commerce," said Andy Pandharikar, CEO of Commerce.AI.
"TiE50 again attracted high-potential startups bringing innovation from different parts of the world. Besides the recognition associated with the TiE50 award, this year, TiE50 also partnered with Meet the Draper's, a ground-breaking reality show to give an opportunity to some companies to pitch to the show," said Kamal Anand, TiE50 Program Chair.
"For over 28 years as a not-for-profit organization dedicated to fostering entrepreneurship and with a global footprint of a half-million entrepreneurs, enterprise executives, and investment professionals, at TiE Silicon Valley, we take pride in the fact that we have created TiE50, a strong 10-year-old brand for recognizing high-potential startups," said B.J. Arun, President, TiE Silicon Valley.
Commerce.AI was founded with the mission to harness the power of artificial intelligence to change the way commerce is done. Ninety-five percent of today's data is unstructured, in the form of text, voice, images and video. When the AI starts to truly understand this data, it can empower the humans to do what we are best at - to build great products and services and sell with confidence.
Now celebrating its tenth year, TiE50 Awards provides a one-of-a-kind showcase for the world's top technology and technology-enabled startups. TiE Silicon Valley's premier annual awards program is keenly contested by thousands of early- to mid-stage startups of all sizes representing a wide range of verticals. Applications are rigorously reviewed by a panel of judges including venture capitalists, angels, successful entrepreneurs, and corporate executives. Since its inception, 84 percent of TiE50 winners and top startups have been funded at a total of over $1 billion. Many of these companies went on to acquisition or IPO, with 29 of the exits at over $100 million. The TiE50 Awards will be presented virtually to the winners during a ceremony on Sept. 3. More information here.
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