AdeptMind

Based in Toronto, AdeptMind develops artificial intelligence search and product discovery software for ecommerce retailers and physical shopping centers. The company provides an enterprise software platform that utilizes natural language processing and deep learning techniques to interpret shopper intent, improving site search accuracy and online conversion rates. AdeptMind is backed by institutional investors such as Fidelity Investments Canada, while its digital marketplace technology is utilized by notable commercial real estate operators and retail brands including Cadillac Fairview, Centennial, and the United States Polo Association. Operating with fifty to one hundred employees, the enterprise generates over six million dollars in annual revenue and has secured over sixteen million dollars in venture capital funding. The organization was founded in 2017 by former Maluuba employees Ghaith Midani and Jing He to digitize physical mall inventories into searchable online marketplaces.

# High-Level Overview

Adeptmind is an AI-powered e-commerce and retail discovery platform that helps retailers bridge the gap between online and offline shopping experiences[2][4]. The company builds intelligent search and product discovery solutions using machine learning and generative AI to understand shopper intent and connect customers with products they're looking for—whether they know exactly what they want or are still exploring[4][6].

The platform serves over 400 retailers, shopping centers, and small-to-medium businesses globally, including major brands like Ulta Beauty, Decathlon, Cadillac Fairview, and Hammerson[2]. Adeptmind solves a critical retail problem: unconverted searches, rising ad costs, and fragmented discovery experiences that plague modern e-commerce[6]. The company is headquartered in Toronto with approximately 29-51 employees and has raised $16.2M across three funding rounds, with the most recent Series A of $6.2M USD in June 2021[1][2].

# Origin Story

Adeptmind was founded in 2016 by G Wu and Jing He, two former employees of Maluuba, a Microsoft-acquired AI startup[2][4]. The founders brought deep expertise in natural language processing and AI voice assistants—they had previously pioneered AI models for major tech companies including Samsung, LG, Tesla, and BlackBerry[6]. This technical pedigree shaped the company's DNA: applying cutting-edge AI research to solve real-world retail problems rather than building consumer-facing AI products.

The company launched its technology platform in 2017 and quickly gained traction, achieving adoption across 400+ retailers within a few years[2]. A pivotal moment came when Ulta Beauty, the largest US beauty retailer, made a strategic investment in the company as part of its vision to create a "digital store of the future"—signaling both validation of Adeptmind's technology and a major customer anchor[4].

# Core Differentiators

• Deep intent mining expertise: The platform goes beyond keyword matching to understand the *context* behind searches—for example, recognizing that "sunscreen that protects but feels light" requires different product recommendations than generic sunscreen searches[2].

• Generative AI integration: Unlike earlier rule-based search systems, Adeptmind applies modern Gen AI to expand organic search visibility, improve search performance, and recover lost return-on-ad-spend (ROAS)[6].

• Dual-channel optimization: The technology seamlessly connects physical and digital retail, helping customers discover products both in-store and online—addressing a gap most e-commerce platforms ignore[4].

• Founder-led AI innovation: The team's roots in academic AI research (via Maluuba) give them a technical moat in building sophisticated language understanding models that competitors built on simpler architectures cannot match[6].

# Role in the Broader Tech Landscape

Adeptmind rides two powerful trends: the AI-driven personalization wave and the retail digital transformation imperative. As e-commerce matures and customer acquisition costs rise, retailers increasingly need intelligent discovery layers to improve conversion rates and customer lifetime value. The timing is particularly favorable—generative AI breakthroughs in 2022-2024 have made sophisticated intent understanding economically viable at scale.

The company also sits at the intersection of proptech and retail tech, attracting investors like noa (formerly A/O PropTech) and Pi Labs who focus on the "built world"[3]. This reflects a broader shift: shopping centers and physical retail are no longer fighting e-commerce but integrating with it, and Adeptmind's omnichannel approach positions it as infrastructure for that convergence.

By enabling retailers to reduce wasted ad spend and improve organic discovery, Adeptmind influences how the broader retail ecosystem allocates marketing budgets—potentially shifting power away from paid search platforms toward owned search experiences.

# Quick Take & Future Outlook

Adeptmind is well-positioned to capture significant market share in the retail AI space as retailers prioritize search and discovery optimization over the next 3-5 years. The company's investor base—spanning venture capital (Innospark Ventures), proptech specialists (noa, Pi Labs), and strategic retail partners (Ulta Beauty, Fidelity)—suggests a clear path to scale through both organic growth and strategic partnerships.

The key inflection point will be whether Adeptmind can expand beyond beauty and specialty retail into broader categories (grocery, fashion, electronics) where search complexity is equally high but customer bases are larger. If the company successfully demonstrates ROI improvements for major retailers, it could become a standard layer in modern retail stacks—similar to how recommendation engines became ubiquitous a decade ago. The founders' AI research background suggests they're thinking in terms of long-term technical moats rather than quick exits, which bodes well for sustained innovation in an increasingly competitive space.