Cloud IQ, a London, UK-based e-commerce optimization platform, raised £4m in funding.
The round included an investment from PayPal (NASDAQ: PYPL), which joined returning investors Nauta Capital, Juno and Finance Wales.
The company intends to use the funds to continue to establish new engineering teams, make senior hires and open a new customer service centre in Cardiff, Wales, UK.
Led by James Critchley, Co-founder and CEO, Cloud IQ provides an automated artificial intelligence (AI) e-commerce optimization platform enabling businesses of all sizes to deliver dynamic individual user experiences via a solution that interprets data and behaviour resulting in consumers becoming loyal customers.
The company serves global brands including Samsung, EE and TUI.