Kwik

Company Overview

Snapshot

Founded in March 2013 by Ofer Klein, Shlomi Atias, and Shuki Barbash, Kwik operates with 1-10 employees. The company has raised $3 million across one funding round from 6 investors. In June 2016, Kwik secured $3 million in funding.

Business overview

Kwik provides an IoT solution that facilitates automatic product reordering based on actual usage, shifting the paradigm from user-initiated orders to usage-based replenishment. The company's IoT solution integrates sensors and advanced machine learning algorithms to monitor product consumption and calculate inventory levels for various consumables. Kwik serves consumers by ensuring they do not run out of essential products, while also benefiting brands and retailers through reduced supply chain costs, enhanced customer loyalty, and real-time data on user habits. Kwik operates in the Business Software sector, focusing on IoT, smart home, and order management within the e-commerce and retail industries.

Strategic signal

In June 2016, Kwik raised $3 million to compete with Amazon Dash buttons, signaling investor confidence in its IoT-driven automatic reordering technology. This funding underscored the market's interest in solutions that streamline consumer replenishment and provide valuable data for brands and retailers, positioning Kwik as a key player in the evolving landscape of connected commerce.

Company Intelligence Q&A

What is Kwik's primary offering?

Kwik offers an IoT solution that enables automatic ordering based on actual product usage, shifting from user-based to usage-based replenishment.

When was Kwik founded?

Kwik was founded in March 2013.

Who are the founders of Kwik?

Kwik was founded by Ofer Klein, Shlomi Atias, and Shuki Barbash.

What was a significant funding event for Kwik?

In June 2016, Kwik raised $3 million in a funding round that included participation from Relay Ventures.

What markets does Kwik target?

Kwik targets geomarkets including the United States and Israel.