Preciate
Facial Recognition Payments for Retail and Related Brands
Company Overview
Snapshot
Founded in February 2018 by Eyal Fisher and Avi Naor, Preciate operated with 1–10 employees. The company focused on developing facial recognition technology for retail payments and customer engagement. In November 2021, Preciate ceased operations.
Business overview
Preciate developed a customer engagement platform leveraging facial recognition and personalization analytics to foster more intimate and value-added relationships with customers. The company's core technology enabled customized shopping experiences through facial recognition, serving the retail industry by enhancing in-store digitalization, customer retention, and overall customer experience. Preciate operated within the Business Software and Fintech and eCommerce sectors, focusing on solutions for payments and point-of-sale systems.
Strategic signal
In November 2021, Preciate ceased operations, indicating a significant shift in its corporate trajectory. This event signals to investors and innovation teams that the company's business model or market approach was not sustainable, leading to its shutdown.
Log in to access full profile ›Company Intelligence Q&A
- What is Preciate's primary business?
- Preciate developed a customer engagement platform utilizing facial recognition and personalization analytics to create enhanced retail shopping experiences and facilitate payments.
- When was Preciate founded and by whom?
- Preciate was founded in February 2018 by co-founders Eyal Fisher and Avi Naor.
- What was the status of Preciate in November 2021?
- In November 2021, Preciate ceased to operate, transitioning to a non-active status.
- What was a key application of Preciate's technology?
- Preciate's technology enabled facial recognition for retail payments, allowing customers to make purchases without needing a wallet, as highlighted in news from January 2021.
- Did any major retailers engage with Preciate's technology?
- In July 2019, Israeli retailer Fox expressed interest in Preciate, with news indicating Fox secured an option for 20% of the customer recognition startup.