Ecommerce analytics startup Qubit has secured $26 million in Series B funding on Monday, with Accel Partners leading the round. Original investors Salesforce Ventures and Balderton Capital, also participated. The funding will be used to expand Qubit’s US and European operations and development of the ongoing product innovation pipeline.
Qubit specialises in tools which assist online retailers to monitor and optimize sales through A/B testing and user centric personalization of content. Mark Choueke, the global communications director at Qubit, wrote in a blog post, “To receive backing from such experienced heavyweights in the market; to have their confidence that what we do and how we do it is worth investing in is amazing. ”
“It shows us that others are seeing what we have known for a long time: that personalization and web optimization are increasingly going to be among the marketing department’s most important growth levers for their businesses,” he added.
TechCrunch reports that, with approximately 150 customers in the U.K. and the U.S., including Hilton Hotel, Jimmy Choo, Staples, Farfetch, Topshop and Uniqlo, the company revealed a 260% year on year growth in sales in the six months to June 2014.
Complete our SAP x CDO Club survey now, and help us to help you
As a result of the funding, Bruce Golden of Accel Partners, will join the Qubit board. Founded in 2010 by four ex-Googlers, Qubit has raised $36.5 million in funding so far.
Read more here
(Image Credit: khrawlings)