Netail, a technology that enables retailers to auto-identify competitors across the internet and track their assortments, availability and optimize prices in real time, today announced the closing of $5M in seed funding. The round was co-led by Magarac Venture Partners (MVP), which provides early-stage venture capital to dynamic entrepreneurs and successful technology companies throughout the Midwest, and Dr. Andrew Ng's AI Fund. Other investors include HKSTP Ventures.

Netail is an easy-to-use technology that helps retailers see their market from a customer perspective, and the thousands of alternative shopping options that are now available through online shopping and search. Netail scans the web and auto-identifies competitive products, providing real-time competitive intelligence for pricing and assortment decisions. Using business rules and AI-based optimization, Netail helps retailers attract and convert more customers, without sacrificing brand values. Without Netail, retailers are faced with large increments in digital marketing spending and declining ROI.