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Slyce Inc Is Slicing Its Way Into Mobile Application Technology

September 21, 2015 - Author: steph - No Comments

Slyce Inc is a company that specializes in image recognition and search technology, and it’s based out of Toronto, Canada. The visual recognition technology that the company specializes in was first launched in the beginning of 2013. The visual search portion that Slyce specializes in caters to consumers, and it allows for the identification of products on just pictures, and the picture allows consumers to search for an item using an application on a smartphone. In order for the visual search technology of the company to be successful, Slyce has been able to forge business relationships with six top United States retailers to juice up the use of its mobile application. Slyce has achieved enough success to be traded publicly on TSX Venture Exchange which is stock exchange based in Canada that does all of its trading electronically so there is no trading floor headquarters.

Slyce was born out of a business consulting firm that was founded by Erika Racicort and Cameron Chell in the start of 2012, and Slyce was founded by Erika and Cameron as well. Originally, the company had its headquarters in Calgary, Alberta, but then it later moved its main offices to Toronto, Ontario. Slyce also has additional satellite offices in Nova Scotia, New Waterford and its United States office in Minneapolis, Minnesota.

In February 2013 at the Mobile World Congress in Barcelona, Spain, the company officially launched its visual recognition and search technology for retail products on smartphone applications. Between the launch of the the visual search technology and the end of 2013, the company was able to raise approximately $6 million. It was also able to acquire a visual search technology startup company called Hover.it, and that helped expand its operations.

Through the acquisition of the visual search startup company and Series A funding, Slyce was growing nicely, and the company had raised close to $11 million in early 2014. Further into the year, the company was able to add another acquisition to its business history when it bought a company called Buycode which was based out of Tel Aviv, Israel. Buycode was a mobile application development company, and Slyce needed it to help grow its Pounce retail shopping application. The company kept growing by acquiring yet another company based out of Minneapolis, Minnesota that specialized in application development called Drivetrain Agency. Through these acquisitions of smaller tech companies, Slyce was able to add two key people to its team. Dan Grigsby, the former CEO of Drivetrain, joined Slyce in the capacity of chief technology officer, and Buycode’s CEO, Avital Yachin filled the new position of chief product officer. There are high expectation of Slyce in the tech community that Slyce will likely deliver on.

Categories: Technology

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