Openmart was founded in 2023 by Kathryn Wu and Richard He. The inspiration for the company began in 2020 when Kathryn Wu, then working at Pinterest, started a milk tea business. She quickly encountered the challenges of navigating a fragmented market and locating retailers’ contact information. This experience led her, three years later, to collaborate with Richard He to launch Openmart.
Openmart positions itself as the AI-driven alternative to ZoomInfo. The platform queries millions of unstructured business data points from websites, business filings, maps, and reviews, curating a comprehensive database of local businesses for sales professionals. Users simply specify the type of businesses they are targeting, and Openmart delivers a list of sales leads complete with detailed contact information.
As a member of Y Combinatorâs W24 cohort, Openmart has experienced significant growth, attracting a client base that includes Fortune 500 companies and emerging startups. In August, the company secured $2.75 million in seed funding from investors such as Y Combinator, Rebel Fund, Afore Capital, UpHonest Capital, and other venture capital firms.
Our core focus is still local business. We know it is a huge pain point. We are confident this AI agent can generate to all outbound sales as we grow into more sectors, not just physical business. AI in the first wave is not replacing lawyers or doctors, itâs more replacing lower intelligence, lower logical orders of reasoning tasks.
Kathryn Wu, in an interview for TechCrunch
In addition to the funding, the company appears to have secured its Exact Brand Match (EBM) domain name, Openmart.com, which now redirects to Openmart.ai. While the .ai domain is popular among tech startups for its association with artificial intelligence and its relative availability, it is a country code top-level domain (ccTLD) for Anguilla and can be limiting as a company expands.
By securing Openmart.com, the company has enhanced its credibility and trustworthiness, providing greater flexibility and scalability for future growth. This domain upgrade will make it easier for customers to find and remember the website while mitigating security risks and avoiding potential traffic leaks.
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