Phuc Truong
Limited Partner at WestCap
Boston, Massachusetts
Overview
Work Experience
Principal seller
2023 - Current
EvokeAI is an aesthetic intelligence platform that converts image affinities and other visual preference data into user-centric aesthetic models - digital style twins. Through the platform, it learns users' visual and style preferences. AI filters then curate products that match each user's aesthetics. The solution enhances retail by zeroing in on recommendations that users' connect with based on their style and aesthetic preferences. In doing so, it makes the path purchase more efficient for retailers and improves their demand curve. In addition, the aesthetic AI filters help to overcome the cold start problem where little user data exists for new customers to propel personalization and recommendation.
Investor
2020
Mentor and investor at TBD Angels - a group of like-minded angel investors who are former and/or existing operators
Limited Partner
2020
WestCap is a strategic operating and investing firm that focuses on tech-enabled, asset-light marketplaces.
Technology Investor
2020
Owl Rock is an investment firm that aims to meet the distinct and underserved financing needs of middle-market companies.
Limited Partner
2019
Oceans is a venture capital firm focusing on giving startups the support they need to succeed.
Co-founder / Head of Business
2021 - 2023
For industrial sectors dedicated to waste (water) to resources reclamation, we use AI and robotics to automate the process of identifying, separating, and reclaiming particles from water. We use the latest innovations from machine vision to identify particles in a stream of water; consequently, we created custom hardware to “slice” the water and divert it to various destinations; one for water and others for different types of particles.
Phuc Labs implements robotics to automate the method of identifying, separating, and reclaiming particles from water.
Raised $1,484,000.00 from Ideaship, Climate Capital, AISprouts and MCJ.
President
2019 - 2020
Developed and produced specialized next-generation nano fibers. Applications in smart textiles providing high performance in personal protection - superior liquid repellency (water and solvents) and air filtration (toxic gases and particulates).
Investor
2018 - 2019
VP, Head of Media Solutions & Business Development
2016 - 2019
SavingStar is a leading provider of digital grocery rewards programs for CPGs, enabling shoppers to earn cash back on item-level grocery purchases when they use their store loyalty card or submit a picture of their receipt. The company's core assets include a massive 100,000+ store retail network, an automated rewards & redemption engine, purchase data (frequent shopper IDs and receipt scan) and an +8M active user base. Responsibilities include: • Created new revenue streams from the company's deterministic 1st party purchase data including audience segments & models, offline sales measurement and consumer insights • Led business development efforts in creating partnerships with companies in the marketing and advertising technology sector including CPG brands, DSPs/DMPs and data companies
SVP, Monetization & Marketing Solutions
2014 - 2016
Drizly is the leading alcohol e-commerce and delivery platform in the US actively serving 30+ cities across the country. I led the team responsible for the value creation of custom products: audience, data and infrastructure to help brands, publishers and partners shorten the consumer’s path to purchase. Responsibilities include: • Led revenue strategy across Drizly’s core assets. Formulated sales strategy and closed clients (created multi-million dollar revenue stream from ground up). Validated product-market fit. • Developed and oversaw roadmap for brand solutions. • Managed team responsible for executing marketing solutions on behalf of brand & publisher clients.
Drizly is an alcohol marketplace that offers a variety of beer, wine and, spirits online.
Raised $119,560,722.00 from Tiger Global Management, Avenir, FJ Labs, Tiger Global Management and Polaris Partners.
Founder & Managing Director, North America
2008 - 2014
Mobext is the mobile marketing agency for Havas. Top-tier clients include McDonald’s, Volvo, Choice Hotels International, Sears Holding Company, Dish Network, Fidelity Investments, Philips, NBA, Tyson, LVMH to name a few. • Founded mobile practice in US for Havas. • Awarded US mobile agency of the year in 2011 & 2012 by Digiday / mobi awards. Numerous awards won within industry. • Established agency as leading top-tier global mobile marketing agencies with revenue and billings surpassing (+$40M). • Managed team of mobile marketing specialists. • Provided mobile stewardship for clients including strategy and execution: mobile site and app development, UX/UI, media planning and buying, mobile activation, social local and commerce.