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Fillr Raises A$5M in Series A Financing

04.14.16_technewsrprt_regina-timothy_seedstar

On Monday, Autofill technology creator Fillr announced a $5 million Series A fundraising round from a consortium of international investors including SoftBank China Capital, Southern Cross Venture Partners and Reinventure.

SoftBank China, the single largest investor in e-commerce giant Alibaba, joined forces with current investors, Constant Innovation, the early stage venture fund launched by the founders of carsales.com, including Chairman Wal Pisciotta and CEO Greg Roebuck.

This Series A fundraising will enable Fillr to rapidly expand its growing global presence in North American, European and Asian markets. Additionally, the fundraising round will support continued product and partnership-driven expansion and further advancements in tech/AI.

Chris Koch, Co-founder and CEO of Fillr today said, “From our initial launch just a little more than a year ago to today, it’s been amazing to see both the customer and investor response to our vision of increasing conversion rates for virtually any kind of transaction on mobile. Having already facilitated over 1.4 million of these transactions, Fillr has experienced phenomenal growth in a short period of time, which validates the unique value and position of our best-of-class technology.”

Located in Melbourne, Australia and San Francisco, USA, Fillr has created cloud-based artificial intelligence that uses advanced machine-learning to power a data exchange platform that can be used for any payment, checkout or data transaction on the internet. For its users, Fillr is simply the world’s most intelligent autofill – fast accurate and secure.

According to Co-founder and Chief Product Officer Chad Stephens, “A significant portion of this investment will fund further product enhancement, including expanding Fillr’s cloud-based artificial intelligence, while also allowing us to bring Fillr to new platforms, including desktop PCs.”

Currently, more than 60% of worldwide traffic to e-commerce sites begins on a mobile device. And yet whilst mobile is responsible for the lion’s share of traffic, it performs terribly when it comes to conversions, responsible for a mere 15.6% of completed transactions. Why? Filling out multi-field checkout forms on a handheld device is difficult, time-consuming and frustrating. Existing solutions offered by major technology companies are woefully inaccurate, averaging just 53% accuracy across the world’s most-visited e-commerce sites. By comparison, Fillr is 95% accurate on the same sites and climbing.

“We have solved the problem of mobile conversions unlike any other companies, using a much forgotten ‘doorway’ that already exists to facilitate the exchange of data.  That ‘doorway’, which historically has been poorly executed by others, is autofill,” said CEO and Co-founder Chris Koch.

“Our proprietary cloud-based AI means our engine can apply more processing power to the problem of machine-reading and mapping the web’s 100 million plus web forms. Our solution is future proof with ever-growing intelligence and not at all dependent on rarely-followed HTML accessibility and WHATWG Autocomplete standards.”

Response from users and partners has been extremely positive, swift and wide-ranging. Currently, Fillr has partnered with more than 20 different browsers, handset OEMs and mobile software providers that represent a collective reach of more than 150 million MAUs. With more than two thirds of its transactions emanating from North America and the United Kingdom, Fillr is fast expanding globally, facilitating transactions in more than 172 countries and growing.

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