Monocle, a startup based in New York City, has successfully completed a seed investment round, accumulating $7.5 million. This significant financial boost marks the company’s transition from stealth to public operation, with a focus on enhancing promotional strategies for consumer brands through artificial intelligence.
The investment effort was spearheaded by F2 Venture Capital and saw contributions from Tiferes Ventures, irrvrntVC, and several industry pioneers from Instacart, Everlane, Melio, and Chubbies.
The brainchild of co-founders Noam Szpiro and Mark Lotman, Monocle’s platform empowers brands to implement intelligent, profit-driven promotions that preserve brand value and profit margins. The system is designed for rapid integration, allowing brands to utilize the platform within days and dispensing with the need for extensive internal engineering or data science resources for setup. Once connected to a brand’s retail and communication platforms, such as Klaviyo and Attentive, Monocle offers a comprehensive performance overview and detailed analysis of promotion-related metrics, including online revenue, promotional spending, average customer incentives, and customer lifetime value.
Monocle, with headquarters in New York City and an office in Tel Aviv, is already collaborating with prominent consumer brands like Death Wish Coffee, Honeylove, and Brunt Workwear.
In 2023, Monocle opened its platform to a select group of brands, and it has quickly gained traction with companies including Death Wish Coffee, BRUNT Workwear, and Honeylove.
