Alumni Ventures Invests in Reactiv to Improve Mobile Commerce with AI-Powered Innovation
Co-Founder and CEO Ross Correia Recently Discussed His Company on AV’s Tech Optimist Podcast
MANCHESTER, NH, NOVEMBER X, 2024 — Alumni Ventures (AV), one of the world’s most active venture capital firms, is a proud investor in Reactiv. Founded by three from Toronto, two Shopify alums, the company is transforming the mobile commerce landscape with its groundbreaking AI-powered platform. AV invested in Reactiv’s recent $5 million seed round led by Bonfire Ventures, with participation from Foxe Capital, Anthemis, and Daher Capital.
Founded in 2023 by CEO Ross Correia, CTO Michael Pezzi, and COO Zack Elias, Reactiv empowers e-commerce merchants with innovative AI tools to quickly build, launch, and manage mobile apps. This includes Reactiv Clips which allows users to interact with functional app sections directly within advertisements or social media posts — no download required — reducing friction and increasing conversion rates. The platform has helped companies enhance customer engagement, yielding significant results, such as a 30% increase in average order value and 2-3x higher conversion rates compared to existing mobile web shopping experiences.
“The transition to online shopping I saw firsthand at Shopify we’re now seeing with mobile apps,” said Correia, who recently discussed Reactiv on AV’s Tech Optimist podcast. “We truly believe mobile apps are the future of shopping. Our platform ensures merchants not only keep pace but thrive by offering their customers an unparalleled shopping experience.”
Emerging from stealth mode earlier this year, Reactiv has already garnered impressive traction, with $1 million in annual recurring revenue from its waitlist alone and partnerships with brands like Top of The Mornin’, Missouri Star Quilt Company, and Fragrance Buy. Reactiv’s future plans include expanding its engineering team, rolling out additional AI features, and refining its platform for broader adoption.
“Reactiv is addressing one of the most pressing challenges in e-commerce — how to make mobile shopping seamless and impactful,” said AV Partner Meera Oak, who hosted the conversation with Correia on AV’s Tech Optimist podcast. “We’re thrilled to support Ross, Zack, and their team as they redefine mobile commerce for merchants and shoppers alike.”
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About Reactiv
Reactiv provides an AI-powered mobile app platform for e-commerce businesses to quickly build, launch, and manage apps, resulting in higher conversion rates and better customer retention. Customers using Reactiv can launch their app in days while eliminating the high costs, long development times, and low download rates that create friction for both businesses and consumers.
About Alumni Ventures
Alumni Ventures (AV) offers accredited individuals access to professional-grade venture capital, a key asset class missing from the portfolios of many sophisticated investors. Since 2014, AV has raised $1.3+ billion from 10,000+ investors and backed 1,500+ unique portfolio companies. AV is a top 20 venture firm in North America according to CB Insights, as well as the #1 most active venture firm in the U.S. according to PitchBook’s 2022 and 2023 rankings. AV has also won awards from Inc. Magazine, Fast Company, Benzinga, and the US FinTech Awards. AV funds are private, for-profit, and not affiliated with or sanctioned by any school.
About Tech Optimist
The Tech Optimist Podcast, presented by Alumni Ventures (AV), focuses on the intersection of technology, entrepreneurship, and innovation. True to our name, we are passionate about technology and its potential to drive positive change. We explore our lane through interviews with startup founders, venture investors, and futurists; discussions of new innovations; and reviews of trends in tech and venture capital. Click here to subscribe.
Media Contact Info
Alumni Ventures, 670 N. Commercial Street, Suite 403, Manchester, NH 03101
Email: [email protected]