UK ecommerce intelligence startup Ometria has received $1.5 million in seed funding. Investors included Huddle co-founders Alastair Mitchell and Andy McLoughlin; Tim Jackson, founder of QXL; and Kelkoo founder Phil Wilkinson. Also participating in the round were Charles Grimsdale of Eden Ventures and Ned Cranborne and Shan Drummond of Samos Investments.
LONDON, UK – Wednesday 26th March, 2014: UK-based ecommerce intelligence startup Ometria (www.ometria.com) has closed a seed funding round of $1.5m, attracting the support of some of London’s most successful entrepreneurs and investors in the ecommerce, retail, technology and SaaS spaces.
Ometria’s platform helps online retailers grow quickly and profitably by attracting better customers and understanding their existing ones, and by providing both insights and actions relating to visitor behaviour and product performance. The real-time platform is aimed at mid-sized retailers who want to boost customer loyalty and maximise performance from their product range.
The $1.5m investment comes from a number of high-profile angel investors including Alastair Mitchell and Andy McLoughlin, co-founders of Huddle, as well as Shutl’s Head of Marketing, Guy Westlake and Chief Digital Officer at Travelex, Sean Cornwell.
Tim Jackson, the founder of QXL, and Kelkoo founder Phil Wilkinson have both invested, bringing significant ecommerce expertise to the investor group. Charles Grimsdale – partner at Eden Ventures – and Ned Cranborne and Shan Drummond – partners at Samos Investments – are also among the individual investors contributing to the seed round, which will be used to grow the Ometria team, and to further develop the actionability layer of the platform.
Former eBay and TalkTalk executive Elisabeth Ling, now VP Digital at online retailer AlexandAlexa.com, has invested and now joins the board of Ometria. Ecommerce guru Dr Mike Baxter, and Terry Parsons, the CTO of 192.com, have also both invested and become formal advisors and members of the senior Ometria team.
“Personalisation and customer acquisition are the biggest challenges that online retailers face at the moment – and any that don’t solve these problems will struggle to survive,” said Ivan Mazour, Founder and CEO of Ometria.
“Most mid-sized retailers understand how competitive ecommerce is, and how important it is to leverage every possible improvement to maximise their profits, but are forced to use outdated and unsuitable tools to track customer behaviour and product performance – normally web analytics and Excel.
“This is why our platform has been built from the ground up by retailers, for retailers – giving our clients the ability to use segmented customer groups for their marketing, to use customer lifetime value to determine which channels are sending the best customers, and to get a clear picture on which products to merchandise to maximise profitability. The ability to make data-driven informed decisions has a clear positive effect on their bottom line. ” Mazour continued.
Ometria is compatible with the most commonly-used ecommerce platforms including Magento, Shopify and Hybris, taking just a few minutes to integrate with these. Clients are given a 28-day free trial and are then charged on a monthly subscription basis.
Formed in February 2013, Ometria was set up by four serial entrepreneurs – Ivan Mazour (CEO) and Djalal Lougouev (CFO), the founding partners of Innova Kapital; and James Dunford Wood (COO) and Alastair James (CTO), the founders of Adnet Digital Media.
Working out of their main Mayfair office, as well as a second office in Moscow, the growing global team of twelve currently includes developers, data-experts and programmers from across the world, including staff from Israel, Uzbekistan, Russia, Croatia and Portugal.
Ometria (www.ometria.com) was founded in London in February 2013 and provides online retailers with a software solution that helps online retailers acquire and retain better customers, and sell them the right products to drive profitability.
Ometria was founded by four serial entrepreneurs – Innova Kapital founding partners Ivan Mazour and Djalal Lougouev, along with travel and ad-tech entrepreneurs James Dunford Wood and Alastair James.
The company is backed by a number of high-profile investors from the ecommerce and technology sectors including the co-founders of Huddle, with advisors including former eBay and TalkTalk executive Elisabeth Ling, CTO of 192.com Terry Parsons, and ecommerce guru Dr Mike Baxter.
Investors with formal advisory roles:
Elisabeth Ling – VP Digital at Alex and Alexa, previously at Ebay, Paypal and Talk Talk, she is investing, joining the board as a non-executive director to guide Ometria’s ongoing strategy, and also using her extensive client-side experience to guide the direction of Ometria’s product development.
Mike Baxter – CEO of Sales Logiq, he advises Tier 1 retailers on their analytics strategy, is also a senior consultant for Econsultancy, a special advisor to Peerius and a director of MoneySpyder. He is investing, and joining Ometria as an advisor to the board, using his network and experience to guide Ometria’s analytics, marketing and PR strategy.
Terry Parsons – CTO of 192.com, one the largest single-site technology companies in the UK. A hugely experienced CTO, a non-executive director of IOVOX (VOIP analytics company), he is investing and also joining Ometria as a formal advisor on technology and scalability strategy
Alastair Mitchell – Co-founder and CEO of Huddle, the most successful B2B SaaS business to come out of London, previously at Dunn Humby, he is investing and will be advising Ometria on customer acquisition and growth strategy.
Andy McLoughlin – Co-founder of Huddle, the most successful B2B SaaS business to come out of London, and an active angel investor, he is investing and advising Ometria on product, marketing and strategy
Philip Wilkinson – Ecommerce founder extraordinaire – founder of Kelkoo UK, acquired by Yahoo, and Keynoir, acquired by TimeOut, currently founder of Kopi and BigCupLittleCup, a subscription coffee brand which is using the Ometria platform. He is investing in the round and advising Ometriaon product development, based on his significant ecommerce expertise.
Tim Jackson – Experienced entrepreneur and investor, Partner at Lean Investments, previously founder of QXL ($2bn exit) and MD of Carlyle Group, he is investing in the round and advising Ometria on growth strategy.
Charles Grimsdale – Currently partner at Eden Ventures, an experienced technologist who is on the board of companies such as BrightPearl (ERP technology company), he is investing and advising Ometria on hiring and sales strategy for SaaS businesses, and later-round funding.
Mario Branciforti – Director of M&A at Symantec, his full-time role is acquiring SaaS businesses like Ometria. He is investing in the round and looking to joining Ometria’s senior management team at the appropriate time.
Sean Cornwell – COO at Shutl, Venture Advisor at MMC Ventures, with a career spanning senior roles at Google and eHarmony, he is investing in the round and advising Ometria on operations and later-round funding.
Guy Westlake – Head of Marketing at Shutl, successfully grew the B2B business providing a technology solution to retailers from 2009 to its acquisition by Ebay in 2013, he is investing in Ometria’s round and advising the company on marketing strategy.
Chris Mairs CBE – Chief scientist of Metaswitch Networks, an experienced CTO with a CBE for services to technology, and very active and successful angel investor, he is investing in the round.
Michael Dent – Founder and CTO of What3Words, and Director of Liberty Tech, he is an experienced startup founder and technologist, and is investing in the round.
Maria Dramalioti-Taylor – Founder of AngelLab, ex-VC, engineer and EIR at INSEAD, she brings a huge network of connections and long-term investor experience, and is investing in the round.
David Ryan – Experienced TMT CEO and long-time angel investor with investments in a number of SaaS and ecommerce businesses.
Kevin Chong – Co-founder of Beacon Capital and a very active angel investor in technology and ecommerce companies such as CultureLabel, he is investing in the round.
Steve Mountain – Co-founder of Beacon Capital, experienced entrepreneur and investor, Founder and CEO of Link Pharmaceuticals which exited to Warburg Pincus.
Shan Drummond – Partner at Samos Investments, he initially made the introduction to one of Ometria’s very first paying customers, Charlotte Tilbury, which they are an investor in, and is investing in the round.
Ned Cranborne – Partner at Samos Investments, he initially made the introduction to one of Ometria’s very first paying customers, Charlotte Tilbury, which they are an investor in, and is investing in the round.