E-commerce intelligence start-up Ometria closes $1.5m from leading tech investors and entrepreneurs
Seed round backed by founders of Huddle, QXL and former eBay executive
E-commerce analytics company Ometria has secured $1.5m seed funding from a group of high-profile investors and entrepreneurs, including Huddle founders Alastair Mitchell and Andy McLoughlin, Tim Jackson; QXL founder, and Phil Wilkinson; founder of Kelkoo.
Former eBay and TalkTalk executive Elisabeth Ling is among the investors and will be joining the company’s board alongside “e-commerce guru” Dr Mike Baxter, and Terry Parsons, CTO of 192.com, who will become advisors to Ometria and members of its senior team.
Founded in February 2013, Mayfair-based Ometria operates a real-time platform targeted at online retailers which provides insights and analytics to help e-commerce businesses “boost customer loyalty and maximise performance”, and can be integrated with most e-commerce platforms such as Magento and Shopify.
Having attracted a list of impressive backers, the tech start-up intends to use the funding to expand its team, which consists of 12 data developers and programmers from across the world, and to enhance its site “actionability”.
Shutl’s head of marketing; Guy Westlake, Sean Cornwall; chief digital officer at Travelex, Charles Grimsdale; partner at Eden Ventures and Ned Cranbourne and Shan Drummond; partners at Samos Investment, also participated in the round to support further platform development.
Ometria co-founder and CEO, Ivan Mazour, discussed the thinking behind Ometria:
“Personalisation and customer acquisition are the biggest challenges that online retailers face at the moment – and any that don’t solve these problems will struggle to survive.
“Most mid-sized retailers understand how competitive e-commerce is, and how important it is to leverage every possible improvement to maximise their profits, but are forced to use outdated and unsuitable tools to track customer behaviour and product performance – normally web analytics and Excel.
“This is why our platform has been built from the ground up by retailers, for retailers – giving our clients the ability to use segmented customer groups for their marketing, to use customer lifetime value to determine which channels are sending the best customers, and to get a clear picture on which products to merchandise to maximise profitability.”