Slyce
| Company type | Private |
|---|---|
| Industry | Visual search, Image recognition, Technology |
| Founded | January 2012 |
| Founder | Cameron Chell, Erika Racicot |
| Headquarters | Philadelphia , United States |
Area served | United States, Europe |
Key people | Mark Elfenbein (former CEO), Ted Mann (CEO of Consumer App Group) |
| Products | Snap-to-Buy recognition platform, Visual Relevancy Engine, Craves app, SnipSnap app |
| Owner | Anzu Partners |
Slyce Inc. is a company specializing in visual search and image recognition technologies, headquartered in Philadelphia, Pennsylvania, with additional operations located in New Waterford, Nova Scotia. The firm has created technology that allows consumers to capture product images using their smartphones and subsequently purchase those items directly. Slyce collaborates with prominent retailers across the United States and Europe, embedding its technology within their mobile applications, including partnerships with Neiman Marcus, Best Buy, and Home Depot. The company also manages the mobile applications Craves and SnipSnap.
Previously listed on the TSX Venture Exchange, Slyce was taken private in January 2017 after its assets were acquired by the venture capital firm Anzu Partners.
History
Founded in January 2012 by entrepreneurs Cameron Chell and Erika Racicot through their consulting enterprise Business Instincts, Slyce initially operated out of Calgary, Alberta. The company later shifted its main office to Toronto, Ontario while maintaining additional locations in Calgary, New Waterford, Nova Scotia, and Minneapolis, Minnesota.
By early 2014, Mark Elfenbein had assumed the roles of president and CEO, overseeing a $10.75 million Series A financing round, followed by a $12 million Series B round within the same year. In April 2014, Slyce revealed intentions to become publicly traded through an amalgamation agreement with Oculus Ventures. Later that year, the company broadened its product offerings by acquiring Tel Aviv-based BuyCode—known for its Pounce shopping app technology—and Minneapolis-based Drivetrain Agency. Following these acquisitions, BuyCode’s CEO Avital Yachin was appointed chief product officer, while Dan Grigsby, CEO of Drivetrain, joined as chief technology officer.
In April 2016, Ted Mann, founder and former CEO of SnipSnap, was named CEO of Slyce’s Consumer App Group. Then, in January 2017, venture capital firm Anzu Partners purchased Slyce’s assets for an undisclosed amount, privatizing the company and relocating its headquarters to Philadelphia.
In November 2020, Slyce formed a partnership with Catchoom and Humai aimed at enhancing retail solutions to support continued expansion and strengthen its position in visual search technology markets.
Platform
Slyce offers visual search and recognition solutions designed for integration into retailer websites and mobile applications. The company counts six of the top 20 U.S. retailers among its clients, including Neiman Marcus. Its technology functions by analyzing product images to identify items and assess them according to a detailed product attribute framework. Often referred to as "The Shazam for shopping," Slyce’s platform improves customer interaction by making product discovery more intuitive.
Products
Among Slyce’s primary products is the Snap-to-Buy recognition platform, which connects with retailer websites to detect products and guide consumers to purchase options. The company also provides the Visual Relevancy Engine that recommends similar items by comparing product attributes. Additionally, Slyce delivers services capable of recognizing products from images shared on social media platforms such as Facebook and Instagram, thereby extending its presence across various digital channels.