Blyp: Data Insights for Ecommerce SMBs

Data-based insights are vital in ecommerce, but for many small-to-medium online stores, their cost is prohibitive. Blyp is a sophisticated, automated AI analytics platform, which affordably examines store data across all tools and platforms

Galit Ben Hemo, partnered with Blyp
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Galit Ben Hemo, partnered with Blyp
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“Large companies worldwide spend millions of dollars a year to obtain data-based insights into their ecommerce — crucial knowledge which is beyond the financial reach of most online retailers,” says Matan Elmalam, CEO of Blyp, which he co-founded last year. “Their only option,” he continues, “is paying independent data experts thousands of dollars to analyze activity and performance. But these kinds of analyses are no more than a starting point. They fail to provide insights or indicate necessary executive decisions, making them so vague they’re virtually useless.”

Blyp: Data Insights for ecommerce SMBs

What ecommerce SMBs need in order to flourish, he explains, is an infrastructure that yields smart, applicable, and growth-oriented analyses. A solution that monitors relevant information from the online stores, analyzes it in real time, and produces clear, concrete, and comprehensible input that entrepreneurs can put to practical use.

Elmalam and Blyp’s CPO and co-founder, Jonathan Halbrecht, both have vast experience with ecommerce data and analytics. After helping several small and medium-sized companies leverage their data into business strategies, they decided to focus their efforts on this poorly-served segment and empower them to leverage data analytics the way established companies do.

“The shift to online commerce opened up a world of opportunities to gauge and analyze data. A world that was only available for global brands,” says Halbrecht. “It also increased the need for sophisticated and precise business analysis. It’s widely understood that you can no longer rely on gut feeling. That era is over.”

Blyp’s founders collaborated on providing data analysis services for ecommerce businesses based in New York. “We crunched numbers for some cool, upstream-swimming entrepreneurs, and we quickly realized that, at the crazy rates at which such companies operate, those who don’t measure their performance don’t grow and often fail,” says Elmalam. “Their problem is that they have neither the funding nor knowledge for these essential analytics — and certainly not at the level of the big market players, who can afford well-oiled analytics systems.”

The technology that is at the heart of Blyp solves this very problem. “With zero investment, ecommerce businesses can translate the data gold mine they’re sitting on into revenue,” he continues. “For Jonathan and myself, this is very satisfying. And added to it is the joy in working with clients who feel they’ve been handed a magic wand!”

Concrete and Consequential Insights

Blyp offers a monthly service package between $29 to $199, depending on the store’s order volume.

“Our main investment in Blyp was planning, developing, and constructing a system for companies and stores worldwide in a single technology infrastructure that reduces costs to the client,” says Halbrecht. “Information is drawn from the client’s store(s) and, more broadly, from paid and organic traffic channels. Everything is analyzed by artificial intelligence in a 24/7 format. This enables the system to recognize and flag issues that have implications for products, marketing, customers, and online store management. It may suggest, for example, replacing a front-of-the-store product with something it identifies as in greater demand — optimization than can be a game-changer for ecommerce entrepreneurs.”

Matan Elmalam, CEO of Blyp and Jonathan Halbrecht Blyp’s CPO and co-founder

Blyp, he says, benefits all ecommerce product categories. “At its core, every ecommerce store is similar,” says Halbrecht. “The difference is in the industry within which it operates. For example, information that’s relevant to the fashion industry isn’t necessarily useful for a cosmetics retailer. It needs to be slightly modified.”

“Data are analyzed round the clock,” says Elmalam, “so any major development is discovered immediately. The information is accessible to the client with a click. It’s sent directly to them in clear, non-jargonized language, without the need to log into a system to extract it. Hands-on, it can be applied instantly.”

Blyp is expanding its technical solutions for online sales. Currently in development, for example, is Blyp Protective, that will not only warn of malfunction but also offer the user an option to have Blyp fix the issue. In February, the company completed a $4 million seed round led by US World Trade Ventures, with participation from investors Eyal Waldman, Dovi Frances, Dr. Rafi Gidron, and Dr. Boaz Schwartz.

Seven Years in Seven Weeks

The majority of Blyp’s 14 employees are based in Tel Aviv, with the remainder in New York. Its ecommerce clients operate primarily in the US, Canada, South America, Europe, and Australia.

“It’s not trendy anymore to say that the pandemic changed the world of ecommerce. But what the Americans say about seven weeks of COVID-19 seeming as long as seven years applies equally to markets going online. While I don’t foresee the disappearance of physical stores and shopping centers, the world is unquestionably moving toward hybrid commerce. We expect ecommerce sites and online sales to accompany most physical stores and occupy increasing space worldwide.”

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