Slyce Inc. is a visual search and recognition company headquartered in Toronto. The company's visual recognition technology was launched in February 2013. Slyce is traded publicly on the TSX Venture Exchange market. Slyce developed visual search technology that can identify products based on a picture and allow the user to purchase the item on their smartphone. The company has partnered with six of the top 20 retailers in the United States to operate its technology as a mobile application, including Neiman Marcus.
Slyce was founded by Cameron Chell and Erika Racicot in January 2012 through their business consulting firm that they founded together, Business Instincts. The company was originally located in Calgary, Alberta, but later moved the headquarters to Toronto, Ontario with additional offices in Calgary, New Waterford, Nova Scotia and Minneapolis, Minnesota.
Slyce's visual product recognition technology was launched in February 2013 at the Mobile World Congress in Barcelona. The company had raised $6 million in financing by December 2013 and acquired Hovr.it, a visual search technology startup company.
By early 2014, Slyce had generated $10.75 million in its Series A round of funding. In April 2014, Slyce announced it was going public through an amalgamation agreement with Oculus Ventures. Later in the year, Slyce acquired Tel Aviv-based BuyCode, a mobile app development company, for its Pounce shopping app technology. Slyce also acquired Minneapolis app developer Drivetrain Agency. After the acquisitions, Drivetrain CEO Dan Grigsby joined Slyce as chief technology officer, and BuyCode CEO Avital Yachin joined as chief product officer.
Slyce develops visual search and recognition technology for larger retailers to use on their brand's websites and mobile applications. The company works with six of the top 20 retailers in the United States, including Neiman Marcus. The visual search technology that Slyce developed uses pictures of products to determine what kind of product it is and then analyzes the subject based on a schema according to the type of product and its attributes. Slyce is often referred to as "The Shazam for shopping."
Slyce has produced several products and services, including the Snap-to-Buy product recognition platform. Snap-to-Buy can be integrated into a retailer's existing website to identify products. The application takes the user to the website to purchase identified products. Slyce has also developed visual search recognition technology, such as the Visual Relevancy Engine, which compares the attributes of a product and delivers products that are similar, and a service that can identify products from pictures on social media sites like Facebook or Instagram.