E-commerce start-up User Replay bags $3.2m Series A round
Episode 1 Ventures-backed deal takes total funding to date to $5.9m
Reading e-commerce start-up User Replay has closed a Series A round worth $3.25m led by Episode 1 Ventures alongside existing investors EC1 Capital and the FSE Group, taking its total funding to an impressive $5.9m.
To coincide with the funding announcement, the e-commerce company has also launched its solution as a Software as a Service (SaaS) offering so that clients aren’t required to install its hardware.
User Replay is a “black-box recorder for e-commerce sites”, providing a software solution which tracks customer journeys and seeks to help clients increase their conversion rates.
It plans to use the latest investment to develop its new cloud-based solution, expand in Europe and open an office in the US to support its customer base there.
User Replay CEO, John Thompson, commented: “Episode 1 Ventures was very quick to spot User Replay’s potential, backing it up with a significant investment.
“Now customer experience management is available on demand customers can try it without investing in hardware, and we have found that significant and previously unknown conversion barriers can usually be identified and fixed within two weeks.”
Adrian Lloyd, a founding partner at Episode 1 Ventures, continued:
“User Replay is solving a significant problem for all transaction-based websites so it is an enormous market but it also has a very experienced team and is already showing excellent traction.
“This is also a space we know and like, having previously invested in an e-commerce enabling business, so it didn’t take long to make our decision.”