BREAKING
Constructor raises $25M Series B - valuation triples to $550M 400 billion search requests powered annually 98.5% client retention - Sephora, Under Armour, Gap, REI, Birkenstock Eli Finkelshteyn: "Let's do it once, do it well, and nobody ever has to do it again" From Aramaic NLP thesis to AI-native e-commerce platform Constructor Series B oversubscribed - investors called them Constructor raises $25M Series B - valuation triples to $550M 400 billion search requests powered annually 98.5% client retention - Sephora, Under Armour, Gap, REI, Birkenstock Eli Finkelshteyn: "Let's do it once, do it well, and nobody ever has to do it again" From Aramaic NLP thesis to AI-native e-commerce platform Constructor Series B oversubscribed - investors called them

Profile / Founder & CEO

Eli
Finkelshteyn

Co-Founder & CEO — Constructor • San Francisco, CA

He spent four years building in stealth. No launches, no PR, no fanfare. Just a team quietly constructing the search engine that retailers would stop trying to build themselves. When they finally opened the doors, Jet.com was first in line.

$550M
Valuation
400B+
Requests / Year
98.5%
Client Retention
$91M
Total Raised
Eli Finkelshteyn, Co-Founder and CEO of Constructor

Eli Finkelshteyn • Constructor

$65M

Annual Revenue

3x

Valuation growth, Series A to B

233%

YoY Revenue Growth (2021)

9

Years building Constructor

The Search Engineer Who Refused to Rebuild from Scratch

Eli Finkelshteyn's Master's thesis was on sentiment analysis in ancient Aramaic. This is not a metaphor. At Brandeis University, while earning a triple major in Math, Economics, and Computer Science before pivoting to a graduate degree in computational linguistics, he trained models on texts that predated the printing press. It was impractical, methodologically rigorous, and somewhat inexplicable - exactly the kind of thing that makes a great search engineer.

His first industry stop was FactSet Research Systems, working on natural language processing. Then Tumblr, where the job was spam and phishing detection at scale. Then Shutterstock in 2011, where the real story begins. As a search engineer there, Finkelshteyn kept bumping into the same problem: building a genuinely great product search experience requires not just a search engine, but a behavioral tracking layer, a big data cluster, and machine learning algorithms trained on shopping patterns. Most companies couldn't build all three. Most companies kept trying anyway.

He met Dan McCormick at Shutterstock - McCormick was then the company's CTO. They shared a frustration that would become a company thesis: across the entire e-commerce industry, teams were duplicating enormous engineering effort to solve the same search problem. It was like every contractor in the city building their own hammers.

Let's just do it once. We'll do it well, and then nobody ever has to do it again.

- Eli Finkelshteyn on founding Constructor

Constructor was founded in 2015. What happened next is the part that gets overlooked: they did not launch. For four years, Finkelshteyn and McCormick and a small team built the product, refined the architecture, trained the systems, and deliberately stayed out of the press. In an era defined by fast launches and faster pivots, they chose patience. The platform that eventually went to market in 2019 had four years of product development behind it before its first enterprise customer ever logged in.

That first customer was Jet.com, the Walmart-owned marketplace that was then handling thousands of queries per second. Constructor had four employees. Jet ran an A/B test on Constructor's autosuggest. The results moved the needle. A new category was established.

The pitch was straightforward and remains so: e-commerce search built with behavioral machine learning, not static Elasticsearch configurations. The distinction matters because of what Elasticsearch can't do. "You can't just build it on top of Solr or Elasticsearch," Finkelshteyn has said, "because then you eventually plateau way too early." Constructor's engine continuously learns from shopping behavior - what people click, what they buy, what they ignore - and adjusts results accordingly. The process is descriptive, not prescriptive. The system learns what shoppers want rather than following rules someone programmed about what they should want.

Personalization, in Finkelshteyn's framing, is also a privacy problem. Constructor uses collaborative filtering rather than personally identifiable information - the same technique behind "customers also bought" recommendations, but without tagging individual users. You can personalize without being creepy. He has said this directly and built the product accordingly.

The Series B raise in 2024 was oversubscribed. Sapphire Ventures led the round at a $550M valuation - triple the company's value from its 2021 Series A. Constructor wasn't actively fundraising. Investors called them.

The company went from 233% year-over-year revenue growth at its Series A announcement in September 2021 to doubling revenue in each of the three following years. The client list grew to include Sephora, Under Armour, Gap, REI, Bonobos, American Eagle, Target Australia, and Birkenstock. Client retention sits at 98.5% - a figure that reveals more about product-market fit than most marketing copy ever could.

Finkelshteyn's philosophy on leadership is equally specific. He credits his high school English teachers - Thomas Johnson, J.J. Hurley, and Joani Reese - with teaching him how to connect with an audience. He is explicit that leadership means being selfless. "If you need to be the hero, let someone else lead" is not a motivational poster aphorism in his case; it traces to something personal. In college, his stepbrother died in a car crash. Finkelshteyn has described how their relationship before that had operated like a zero-sum game. The loss changed his framework: any success he pursued would be shared with the people around him. Constructor's organizational culture - where ideas flow from everywhere and credit goes to whoever generated them - reflects that.

He openly acknowledges the ongoing difficulty of work-life balance. He is a father who prioritizes fatherhood. He describes being constantly calibrated toward the question of having the greatest impact - in work, in his team, in the broader market. The company he runs now processes more search queries in a year than most databases see in a lifetime. The ancient Aramaic models are long retired.


The Long Game

2009-2010

Earned MA in Computational Linguistics at Brandeis University, writing a thesis on speaker sentiment analysis in ancient Aramaic texts.

2010

Software Engineer in Natural Language Processing at FactSet Research Systems.

2011

Data Engineer at Tumblr, working on spam and phishing detection systems at scale.

2011-2012

Search Engineer at Shutterstock, developing search algorithms and spelling correction. Met future co-founder Dan McCormick.

2015

Co-founded Constructor with Dan McCormick in San Francisco. Begins four years of stealth development.

2016

Raised $1.1M Pre-Seed round.

2017

Closed $5M Seed round led by Zetta Venture Partners, with Signia Venture Partners participating.

2019

Launched Constructor to market. Signed Jet.com (Walmart-owned) as first enterprise client - with 4 employees on the team. Jet was processing thousands of queries per second.

2021

Raised $55M Series A led by Silversmith Capital Partners on 233% year-over-year revenue growth. David Fraga (ex-InVision) joined the board.

2024

Raised $25M Series B led by Sapphire Ventures. Valuation tripled to $550M. Round was oversubscribed - Constructor wasn't actively fundraising. Third consecutive year of doubled revenue.

Powering product discovery at

Sephora
Under Armour
Gap
REI
Bonobos
American Eagle
Target Australia
Birkenstock
Jet.com
+ 400B requests/year

What He's Said

The challenge nowadays, across all facets of ecommerce, is combining what's possible with what's ethical.

On AI and e-commerce

Leadership means being selfless and letting others be the hero. If you need to be the hero, let someone else lead.

On leadership philosophy

E-retailers who surface products that appeal to customers faster will have a competitive advantage.

On product discovery

You can't just build it on top of Solr or Elasticsearch because then you eventually plateau way too early.

On search infrastructure

The process should be descriptive rather than prescriptive - behavioral data should continuously refine results.

On Constructor's ML approach

Let's just do it once. We'll do it well, and then nobody ever has to do it again.

On the founding thesis

Who He Is When No One's Watching

Collaborative Abundance

After his stepbrother's death in college, Finkelshteyn moved away from zero-sum thinking entirely. His framework: success is not a limited resource. He builds organizations that reflect this.

Patient by Design

Four years in stealth before launching. Three consecutive years of doubled revenue after. His version of urgency operates on a different timescale than the industry norm.

Ethics First

Built personalization without PII collection because he believes it's the right architecture - not because it's the easy one. Frequently discusses the difference between what's possible and what's responsible.

Linguist at Heart

Wrote a graduate thesis on ancient Aramaic sentiment analysis. The obsession with language - its structure, its ambiguity, its intent - runs directly through Constructor's NLP architecture.

Impact-Driven

Describes "having the greatest impact" as the throughline of his decisions. Openly wrestles with work-life balance while naming fatherhood as a top priority.

Credit Distributor

Credits high school English teachers for his communication skills. Credits team members for ideas. Hires people more talented than himself and trusts them to be right.

How Constructor Got Built

Round Year Amount Lead Investor Context
Pre-Seed 2016 $1.1M - Early product development
Seed 2017 $5M Zetta Venture Partners Signia Venture Partners also participated
Series A 2021 $55M Silversmith Capital Partners 233% YoY growth; David Fraga joins board
Series B 2024 $25M Sapphire Ventures Oversubscribed; valuation tripled to $550M

The Stack

Constructor's technology spans search infrastructure, ML infrastructure, and enterprise tooling. A partial view of what's running at scale.

Python
Rust
TypeScript
React
FastAPI
PostgreSQL
ClickHouse
Databricks
Spark
Kubernetes
AWS Lambda
Amazon Kinesis
OpenSearch
LangGraph
Airflow
Terraform
Grafana
Prometheus
SentenceTransformers
NumPy / pandas

The Details

Links & Resources

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