Analytics solution Ometria raises €1.08mn in seed funding
The UK-based startup Ometria has disclosed a 1.5 million dollar (€1.08 million) seed round this week from a group of angel investors. The new funding will be used to grow the team and to further develop its ecommerce intelligence platform, which provides retailers with insights relating to customer behavior and product performance.
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The funding round isn’t led by one big lead investor, but the total of sixteen entrepreneur-backers come from the ecommerce, retail and SaaS worlds, and that’s a big plus for Ometria, which “has been built by retailers, for retailers”. Among the investors are Tim Jackson (founder of auction site QXL) and Phil Wilkinson (founder of Kelkoo).
Personalization and customer acquisition are retailers’ biggest challenges
According to Ivan Mazour, Founder and CEO, personalization and customer acquisition are the biggest challenges that online retailers face at the moment. “And anyone that doesn’t solve these problems will struggle to survive”, he says. “Most mid-sized retailers understand how competitive ecommerce is, and how important it is to leverage every possible improvement to maximize their profits, but are forced to use outdated and unsuitable tools – normally web analytics and Excel.”
With Ometria, retailers have the ability to use segmented customers groups for their marketing, to use customer lifetime value to determine which channels send the best customers and to get a clear picture on which products they should sell to maximize profitability. The software is compatible with popular ecommerce platforms like Magento, Shopify or Hybris.
Ometria is based in London and the startup also has an office in Moscow. Its team of developers, data experts and programmers consists of people from Portugal, Croatia, Russia, Uzbekistan and Israel.