Website-development platform provider Wix said Wednesday that it's acquiring Israeli-based Rise.ai, makers of software that aims to help merchants optimize their online commerce offerings through gift cards and other customer re-engagement tactics.
With its AI-based software, Rise.ai enables merchants to send customized gift cards, rewards, and store credit refund programs to customers. According to Wix, Rise.ai helped generate $150 million for merchants and handled more than $1 billion in-store credit in 2019.
Wix said the acquisition will allow the company to provide their merchants with a diverse array of gift cards and reward systems, which it said are among the most highly requested services from Wix users.
"We are excited to expand our offering and services as part of the Wix eCommerce strategy," said Arik Perez, head of Wix e-commerce. "By providing merchants with more native tools, we can help them grow long-term customer value and revenues to build their businesses and keep optimizing and increasing profitability. Rise.ai is considered to be the best solution of its kind in the market, and the integration will enable merchants to easily manage and maintain customer engagement tools, ultimately leading to increased loyalty and revenue."
As businesses were forced to go digital during the COVID-19 pandemic, Wix was among the winners as 2020 sales surged 30%. As of Dec. 31, Wix had 5.5 million premium subscribers and 196.7 million registered users.