QuBit Announces $7.5 Million Series A Investment Led by Balderton Capital
LONDON, December 4, 2012 /PRNewswire/ –
Big data analytics technology provider raises funds for new products and
QuBit (http://www.qubitproducts.com), the customer data platform, has today closed
a $7.5 million Series A funding round led by the EU’s leading venture investor, Balderton
Capital (http://www.balderton.com). Bernard Liautaud, General Partner at Balderton
Capital and previously founder of Business Objects, will also be joining QuBit’s board.
During 2012, QuBit has seen revenues grow by 300% and has added over 1,000 customers
to its SaaS platform. The funding will be used by QuBit to bring to market the company’s
new SaaS platform as well as to further develop its hugely successful SaaS tag management
product, OpenTag [http://www.opentag.qubitproducts.com ]. In addition, the funding will be
used to help build QuBit’s presence in the US and mainland Europe.
Founded by four ex-Google product, marketing and engineering executives, QuBit has
developed a suite of products that help major website owners make their online presences
more effective. Using advanced big data collection and analysis techniques, QuBit’s
products are enabling a new generation of optimisation and personalisation strategies on
websites. The company works with major eCommerce businesses and publishers including
Arcadia Group, John Lewis, BBC and Staples.
QuBit is well positioned to take advantage of the rapidly growing big data market.
Gartner Research expect companies around the world to spend as much as $120 billion on
their IT spending in 2013 alone as they implement strategies to extract value from the
data created by and effecting their businesses.
Graham Cooke, CEO of QuBit, said: “Our technology is about driving website efficiency
and that’s a compelling message in a market where competition is getting more and more
intense. Buyers are shopping around more, traffic is getting more expensive and purchase
cycles are becoming longer. Our products help site owners to understand their customers
and to seamlessly act upon that understanding to drive revenue and profit.
“To get the backing of an organisation like Balderton is a strong validation of our
business and our technology. As well as bringing us finance, we also get the involvement
of Bernard, the founder of the most successful business intelligence company in history.
That sort of input is going to be invaluable to us and can only help to build this
business into a world leader”
Bernard Liautaud, General Partner, Balderton Capital, said: “QuBit is applying big
data techniques to the web analytics and optimisation space, bringing together two of the
most important technologies right now. What’s most impressive with the QuBit approach is
that they’ve created more than a point solution; they’ve already developed a comprehensive
suite of products that let website owners collect, understand and act upon the huge
amounts of data generated by customer interaction with their websites.”
QuBit was advised on legal matters by Orrick, Herrington & Sutcliffe.
Founded by four ex-Google product, engineering and marketing executives, QuBit is
developing a new breed of data-driven website optimisation products. They have a direct
focus on enabling businesses to automatically improve and personalise the online
QuBit pioneers Customer Analytics, a new type of analysis that targets the user – this
approach offers a true interpretation of the entire customer journey and allows businesses
to fully understand consumer’s purchasing behaviours. This, coupled with advanced data
collection, machine learning and processing techniques help businesses rapidly optimise
website conversions – a key factor in driving sales and increasing profitability.
QuBit values agility and actionability – they’re able to make immediate improvements
to business’ websites, as well as ensuring that their findings are directly linked to
achieving prioritised business outcomes.
QuBit works with some of the UK’s largest ecommerce businesses and publishers to
increase conversions, sales and profitability from their web operations.
About Balderton Capital
Balderton Capital is one of the largest venture capital firms in Europe, committed to
finding and helping talented entrepreneurs build great companies. Based in London, the
firm manages $1.9 billion in committed venture capital. Since 2000, Balderton has invested
in over 100 companies, principally in numerous European countries but also in the US and
Asia. Notable investments include YOOX Group (the online retailer of leading fashion
brands, listed in December 2009), LOVEFiLM (sold to Amazon in 2011), Betfair (the online
betting exchange floated in London in October 2010), Bebo (sold to AOL for $850m), and
MySQL (sold to Sun for $1 billion). For more information, visit:
About Bernard Liautaud
Bernard Liautaud founded Business Objects in 1990 and was CEO for 15 years then
Chairman until January 2008. With 6,700 employees, 45,000 customers and $1.5 billion of
revenue in 2007, Business Objects was the world leader in Business Intelligence and one of
the 15 largest software companies in the world. Business Objects was the first European
software IPO on Nasdaq in 1994. In January 2008, Business Objects was acquired by SAP for
$6.8 billion, making it the third largest software acquisition at the time.