Cloud.IQ, a London, UK-based the conversion rate optimization platform for e-commerce, raised GBP£4M in Series A funding.
The round was led by Nauta Capital with participation from Finance Wales and existing investors Juno Capital.
The company intends to use the funds for international expansion and new product development.
Co-founded in 2012 by James Critchley and Paul Phillips, Cloud.IQ provides an artificial intelligence (AI) platform that uses machine learning to enable e-commerce business to increase revenue. Powered by data and analytics, the platform responds to vast data sets in real-time to action personalized customer experiences driving conversion results at scale.
Customers include such brands as Allianz, Boots, Bose, EE, Hearst Magazines, Samsung, TUI and more.