Constructor Reaches New Heights with Record-Breaking FY24 Milestones in Product and Revenue

Constructor Achieves Impressive Milestones in FY24

Constructor, renowned as a top AI-powered search and product discovery platform for enterprise ecommerce, has unveiled significant accomplishments from its record-breaking fiscal year 2024 (FY24), spanning from February 1, 2024, to January 31, 2025. The company has not only celebrated nearly doubled revenue for the fourth consecutive year but also experienced a remarkable growth in valuation and an expansive global clientele.

Record Growth and Expansion

In FY24, Constructor's financial performance has been exemplary, almost doubling its revenue once again, while also seeing a substantial increase in annual recurring revenue (ARR) from subscriptions and contracts. This growth trajectory is attributed to successful partnerships with leading ecommerce retailers, as well as a robust presence in various sectors including apparel, grocery, cosmetics, general retail, and B2B manufacturing. By meeting the needs of diverse industries, Constructor has solidified its position as a go-to platform for powering ecommerce success.

In addition to its financial achievements, Constructor's valuation skyrocketed to $550 million, nearly tripling since its Series A fundraising round in 2021. This monumental growth was bolstered by the recent acquisition of $25 million in Series B funding.

Powering Shopper Engagement

With a staggering 250 billion shopper queries processed—an impressive 184% increase from the previous year—Constructor has facilitated hundreds of millions of personalized shopping experiences each day. For instance, clients using Constructor's solutions have reported remarkable results, including an average order value increase of 16.5% and a revenue lift per visit of 15%. Additionally, the platform has demonstrated exceptional performance in search revenue, leading to an overall ROI of up to 20X for many clients.

Moreover, Constructor's award-winning AI Shopping Assistant, a conversational product discovery tool designed to streamline ecommerce search, has played a crucial role in transforming user engagement. Brands utilizing this innovative tool reported a significant uplift in website revenues and search conversions, citing increases of 10% and 6%, respectively.

Global Reach and New Hires

Constructor is not only seeing growth in revenue but is also expanding its geographic footprint. The company has significantly enhanced its presence in the Europe, Middle East, Africa (EMEA), and Latin America (LATAM) markets, doubling revenue from these regions in the past year. The team has grown by 47%, attracting new talent across North and South America, Europe, and Australia to strengthen their operations.

In line with its vision, Constructor welcomed former AI veteran Dan Buczaczer as its Vice President of Marketing, bringing two and a half decades of expertise in AI-driven businesses and strategic marketing. His leadership is expected to propel further advancements in marketing initiatives.

Recognition and Awards

Constructor’s contributions have not gone unnoticed. The company was triumphant in multiple award programs, securing five gold Stevie Awards for its innovation and leadership in product discovery technology. It was also recognized as a Leader in the IDC MarketScape for Knowledge Discovery Software. Moreover, Constructor has continuously proven itself a reliable partner in enhancing workplace culture, being featured on Will Reed's Top 100 list for companies pioneering positive work environments.

Looking Ahead

Constructor's CEO, Eli Finkelshteyn, expressed pride over the year's accomplishments but stressed that they are just the beginning. The company is focused on further enhancing product discovery processes and maximizing the benefits for ecommerce clients and their consumers in the upcoming year.

As part of its ongoing commitment to innovation, Constructor will showcase its entire range of services, including the AI Shopping Assistant, at the upcoming eTail West conference in Palm Springs, California, happening from February 24 to 27, 2025, where attendees can engage with the team and experience the latest in ecommerce solutions.

In summary, Constructor's performance in FY24 demonstrates its relentless pursuit of excellence within the ecommerce landscape, continually evolving to deliver exceptional results for clients and enriching the shopping experiences for consumers worldwide.