Retail executive and entrepreneur Julie Bornstein is on a mission to transform the way people discover and shop for fashion. Her new startup, Daydream, has raised million in seed funding to build a platform that leverages generative artificial intelligence, machine learning, and computer vision to help consumers find the products they love. With a team of seasoned executives from tech giants and fashion powerhouses, Daydream aims to solve the longstanding challenges of search and personalization in the commerce sector.
Unlocking the Power of AI for Effortless Fashion Discovery
Bridging the Gap Between Consumers and Brands
Daydream's platform is designed to bridge the gap between consumers and the vast array of fashion brands and retailers available. By harnessing the power of natural language processing and generative AI, the platform allows users to search for products using intuitive prompts, such as "pastel-colored dresses for a garden party in Charleston" or "high-end suits for a business conference in NY." The platform then surfaces the most relevant options from participating brands, making it easier for consumers to discover and purchase the items they desire.This innovative approach to search and discovery addresses a critical pain point in the online shopping experience. As Kirsten Green, founder and managing partner at investor Forerunner, explains, "The search experience has become increasingly cluttered and ineffective. Search is inherently defined by 'show me options' — a broken value proposition when the options are infinite — while service is defined by 'show me the options that are uniquely best for me', which is exponentially more valuable in the context of the vast pool of what's available."
Harnessing the Power of AI for Personalized Recommendations
Daydream's platform goes beyond traditional search by leveraging machine learning and computer vision to provide personalized recommendations. By analyzing user preferences, browsing history, and other contextual data, the platform can curate a tailored selection of products that are uniquely suited to each individual's style and needs.This personalized approach to fashion discovery is a game-changer, as it empowers consumers to find the products they love without having to sift through endless options. As Bornstein explains, "We can finally build an intelligent online-shopping platform that will make it easy and fun for consumers to find products they love among the best selection of brands and retailers in the world."
Collaboration Between Brands and Consumers
Daydream's AI-powered platform is designed to foster a collaborative relationship between brands and consumers. By providing brands with valuable insights into consumer preferences and shopping behavior, the platform can help them better understand their target audience and tailor their offerings accordingly.At the same time, the platform's personalized recommendations and intuitive search capabilities empower consumers to discover new brands and products that align with their individual style and preferences. This mutually beneficial relationship has the potential to reshape the fashion industry, driving increased customer satisfaction and brand loyalty.
A Seasoned Team Driving Innovation
Daydream's success is underpinned by a team of seasoned executives with diverse backgrounds in technology and fashion. The co-founders include Chief Technology Officer Matt Fisher, Chief Product Officer Dan Cary, Chief Commercial Officer Lisa Green, and Chief Strategy Officer Richard Kim, all of whom have extensive experience working at companies like Microsoft, Google, Amazon, Nordstrom, Farfetch, and Pinterest.This cross-functional team brings a wealth of expertise and a deep understanding of the challenges facing the fashion industry. By combining their knowledge and insights, they are well-positioned to develop innovative solutions that address the evolving needs of both consumers and brands.
Transforming the Future of Fashion Discovery
Daydream's million seed funding round, co-led by Forerunner Ventures and Index Ventures with participation from Google Ventures and True Ventures, is a testament to the platform's potential to disrupt the fashion industry.As Bornstein and her team continue to refine and expand the platform, they are poised to redefine the way people discover and shop for fashion. By harnessing the power of AI and machine learning, Daydream is paving the way for a more personalized, efficient, and enjoyable online shopping experience – one that ultimately benefits both consumers and brands.
