E-commerce technology and analytics platform Qubit has successfully raised $26 million of Series B funding, which will be used to go after the US market.
Led by Accel Partners with support from original investor Balderton Capital and Salesforce Ventures, Salesforce.com’s corporate investment group, the cash will also be used by Qubit to maintain product innovation.
Qubit’s board is set to grow with the addition of Bruce Golden, an early investor in NASDAQ-listed companies such as Qliktech, Comscore and Responsys, as a result of the investment. Golden will link up with Balderton’s Bernard Liautaud, who founded enterprise software company BusinessObjects.
In the first six months of 2014 Qubit recorded a 260% rise in year-on-year sales – an achievement the company says has been fuelled by the growing importance of personalised content among marketers.
By collecting detailed information about users’ interactions with a website, Qubit’s flagship product, its personalisation platform, analyses and identifies patterns of behaviour that can be used by marketers to make site optimisations.
The Qubit suite features a/b testing, audience segmentation, digital analytics and tag management to help remove a marketing team’s reliance on their specialised IT department.
More than 1.5 billion online customer events are processed every day in the unified visitor data hub that makes up the Qubit technology stack, which in the eyes of CEO and founder Graham Cooke is an industry “leader”.
“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,” Cooke said.
“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.”
This round of investment is Qubit’s third after it received $1.4 million of angel funding in 2010 and a $7.5 million Series A package in late 2012.