Teikametrics Announces Two Senior Hires and New AI Enhancements to Its Flywheel 2.0 Platform

2023-08-15 21:21

BOSTON--(BUSINESS WIRE)--Aug 15, 2023--

Teikametrics, the leading AI-powered Marketplace Optimization Platform with over $1B+ in annual ad sales optimized, is excited to spotlight the addition of two veteran eCommerce executives to its leadership roster with the appointment of Ben Rey as Chief Revenue Officer and Erik Ricard as the Vice President of Services.

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Teikametrics' new Chief Revenue Officer, Ben Rey (Photo: Business Wire)

Rey brings a wealth of SaaS and eCommerce industry experience, having previously been CRO at Zoovu, an AI-powered product discovery and e-commerce experience platform. While there, Rey built a revenue engine that transformed the company to over 2,600 customers. This follows tenures as SVP and VP of Sales at Profitero and Brandwatch respectively.

Ricard spent 8 years at Amazon in both Sales and Talent Development roles before VP roles at Wunderman Thompson Commerce and Stackline. He will build and scale Teikametrics’ US-based Managed Services organization to drive growth, improve customer retention, and increase efficiency.

"In Ben and Erik, we have two leaders who have been in the trenches, developing teams and unpacking the value of data-driven insights and automation for some of the biggest brands in the world,” said Alasdair McLean-Foreman, CEO of Teikametrics. "Our mission is to help sellers and brand owners maximize their potential by combining data, AI, and expertise, and we’re excited to bring on Ben and Erik just as we expand into new marketplaces and bring a steady stream of AI-powered innovation to the marketplace experience.”

Flywheel 2.0 AI Enhancements

Flywheel 2.0 is the premier Predictive AI-powered Marketplace Optimization Platform. It allows brands to automate intelligent advertising bids, target keywords, manage budgets, and monetize demand forecasting at both speed and scale. We’re excited to announce the following enhancements:

Large and growing data moat, surpassing 750M monthly bid changes: Teikametrics was one of the first adopters of AI in the Amazon advertising space. Flywheel 2.0’s algorithms now execute over 750M monthly bid changes. This massive data moat combined with its longevity means Flywheel 2.0 has the right data, a lot of it, and its algorithms have had time to be optimized and trained effectively.
Intraday automated bidding now updates 6 times more frequently: Since Amazon Market Stream (AMS) started sending hourly performance data last year, Flywheel 2.0 has multiplied the frequency of our bid updates by 6, with many customers seeing meaningful improvements to both ad sales and return on ad spend (ROAS).
Marketplace expansion: Teikametrics is the leading AI-optimization platform for Amazon and Walmart, but it has also expanded into more channels such as Target and the recently announced TikTok Shops, offering unparalleled multi-marketplace data analysis.

To learn more about how Flywheel 2.0 saves sellers time and removes complexity by completely automating product-first, full-funnel advertising, visit teikametrics.com/flywheel

About Teikametrics

Teikametrics’ AI-powered Marketplace Optimization Platform helps sellers and brand owners maximize their potential on the world’s most valuable marketplaces. Founded in 2015, Teikametrics uses proprietary AI technology to maximize profitability in a simple SaaS interface. Teikametrics optimizes more than $10 billion in GMV across thousands of sellers around the world, with brands including Munchkin, Clarks, Nutribullet, Conair, Nutrafol, and Solo Stove trusting Teikametrics to unlock the full potential of their selling and advertising on Amazon, Walmart, and other marketplaces.

For more information, please visit: http://www.teikametrics.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20230815084506/en/

CONTACT: Chimney Rock Advisors

Nathan Sieminski

nathan@chimneyrockadvisors.com

KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ONLINE RETAIL DATA MANAGEMENT RETAIL TECHNOLOGY SOFTWARE ELECTRONIC COMMERCE ARTIFICIAL INTELLIGENCE

SOURCE: Teikametrics

PUB: 08/15/2023 09:01 AM/DISC: 08/15/2023 09:02 AM

http://www.businesswire.com/news/home/20230815084506/en