E-commerce tech company Qubit readies for US expansion
E-commerce technology company Qubit has announced a $26m Series B investment led by Accel Partners, with participation from original investor Balderton Capital and Salesforce Ventures, Salesforce.com's corporate investment group.
Qubit's personalization platform collects detailed information about users' interactions with a website and analyses it to identify patterns of behavior that drive revenue and inspire business-wide optimization decisions.
The investment will be used to fuel rapid expansion of Qubit's presence in the United States and accelerate its ongoing program of product innovation. As part of the investment Bruce Golden, an early investor in NASDAQ-listed companies such as Qliktech, Comscore and Responsys, will join Qubit's board where he will join Balderton's Bernard Liautaud, founder of Business Objects.
The company's integrated suite of products provides the ability to optimize the online experience while making web data available throughout the whole business. The suite includes personalization and A/B testing, audience segmentation, digital analytics and tag management. These applications allow marketers to optimize and test websites in real-time, without the need for specialist IT resource, helping drive rapid and sustained ROI.
“We're delighted to welcome Accel into the Qubit family and Bruce Golden onto our board of directors. To date we have carved ourselves a position in the market by offering clients the market's best, most flexible and integrated range of personalization applications; ones that drive real uplifts that CFOs can see in the bottom line,” said Graham Cooke, Qubit's CEO and co-founder. “This product offering and the data that underpins it has seen us become a leader in the mature UK market and a challenger with a big punch in the US where recent wins include Bebe, Dr Jays and Indochino. Clients are increasingly turning to our integrated technology after years of frustration with the market's single-point solutions. They are finding that our suite of products can optimize their online experiences and help their data to drive rapid and sustained ROI. The unparalleled market expertise on our board and the beginning of a partnership with Salesforce will help us continue to lead in this increasingly relevant space, both in Europe and the strategically important US market.”