Latvian competitor tracking startup RivalSense raises investment

Riga-based AI-powered competitor tracking startup RivalSense has raised an investment from Estonian lead investor Change Ventures with the participation of Hungarian Fiedler Capital and some Latvian business angels. The amount of the deal is undisclosed. 

Founded in Riga in 2024 by Martins Vaivars and Arturs Prieditis, RivalSense has developed a solution that allows users to monitor their competitors using AI technology. The startup's clients receive weekly updates with the most important competitor insights, including price changes, product changes, new hires, regulatory issues, customers, suppliers, tech stack, regulatory challenges, media mentions, and corporate filings. 

RivalSense relies on more than 80 sources to organize its weekly updates, including competitor websites, social media accounts, financial filings, business databases, company registers, job postings, etc. RivalSense's key customers include startup founders and mid- to senior-level executives in more established companies.

RivalSense will use the investment to acquire more customers and further develop its AI technology to gain more competitive insights. 

Established in Tallinn in 2017 by Andris K. Berzins, Rait Ojasaar, and Yrjö Ojasaar, Change Ventures is a pre-seed and seed-stage venture capital fund, that backs startups founded by Baltic entrepreneurs. The initial ticket size of the fund is between €100K to €500K.