Geenee Inc.

Geenee Inc. is a technology company that specializes in augmented reality solutions, offering a Virtual Try-On platform that enhances online shopping experiences for users, allowing them to engage with products via augmented reality. Founded in 2014 and headquartered in Los Angeles, US, Geenee Inc. focuses on providing augmented reality solutions.

The company was established by Philipp Holzschneider and has raised USD 7. 00 mn in Seed funding, led by IDG Partners in November 2019. The firm has completed a total of 2 funding deals. Geenee specializes in augmented reality (AR) solutions, primarily offering a full-service Virtual Try-On platform designed for the open web.

This technology enables users to virtually try on a wide range of products, including apparel, watches, beauty items, eyewear, automotive accessories, and home goods. Geenee's AR Virtual Try-On software integrates with major demand-side platforms (DSPs) and is utilized by hundreds of publishers across various industries. The platform aims to enhance the online shopping experience by increasing consumer engagement and improving conversion rates, which can reportedly rise by 250% when using Geenee's technology. Geenee serves a diverse client base that includes retailers and brands looking to implement innovative AR solutions in markets such as North America, Europe, and Asia.

Geenee's revenue model is primarily based on partnerships with retailers and brands that utilize its AR Virtual Try-On technology to enhance their e-commerce offerings. Transactions typically occur through B2B agreements where businesses subscribe to Geenee's services or purchase tailored AR solutions for their specific needs. The pricing structure for these services is based on various factors, including the scope and scale of implementation. By partnering with major DSP platforms such as Audience X, Teads, and The Trade Desk, Geenee positions itself to generate revenue through both direct-to-consumer applications and collaborations with established retailers.

The company's flagship product, the AR Virtual Try-On software, is a key driver of its business model, facilitating enhanced customer engagement and driving sales for its partners. Geenee plans to leverage its recent funding of USD 7. 00 mn raised in November 2019 to enhance its product offerings and expand into new markets. The company is focused on the development of innovative AR solutions, with expectations to launch new features by the end of 2023.

Additionally, Geenee aims to penetrate emerging markets in Asia and Europe, targeting strategic partnerships that will enhance its reach and user engagement.