Ometria, the customer marketing platform for retailers, has announced they have raised $21m in Series B funding to further innovate its AI technology which enables retailers to better understand and better communicate with their customers. The round was led by Octopus Ventures, with Sonae IM and a number of other investors participating as well.
As the UK online retail industry surpasses a hundred billion pounds in annual sales, and grows at 20% year on year, consumers find themselves receiving endless and unwanted marketing communication.
“Junk mail through our letterboxes has now been replaced by a deluge of messages and notifications, whether through email, text, WhatsApp, Instagram or a dozen other channels. It’s relentless and must be addressed. Retail marketing contributes heavily to this, with most marketing experiences leading to frustrated and disengaged consumers” says Ometria’s CEO and Founder Ivan Mazour.
Ometria was founded on the idea that marketers need to take responsibility for the impact of every communication they send, and be empowered to ensure that every marketing experience they create for any customer is a positive one.
“We want our customers to discover amazing new products, but we also want to make sure that they do that through marketing experiences they enjoy” says Jennifer Roebuck, CMO at Feelunique.com.
Mazour added, “I’m proud that Ometria solves this ever-increasing problem for hundreds of millions of customers, and I encourage the retail industry to use the technology now available to them to ensure that their customers have marketing experiences they truly love”.
As the retail industry becomes more competitive, and as customer touch points grow in complexity, ensuring that billions of customers have truly relevant experiences will only be possible through leveraging real-time artificial intelligence. Ometria’s retail-focused technology is pioneering the transition, enabling marketers to use predictive intelligence to create individually-relevant experiences for each customer, in turn driving significant uplifts in retail revenue.
Since its $6m Series A funding round, Ometria, which was recently named the 9th fastest-growing technology company in the UK in the Deloitte Fast 50, has expanded its client base to two hundred retailers, including Hotel Chocolat, Fred Perry, MADE.com and Notonthehighstreet.com.
Marieke Christmann, Investor, Octopus Ventures said, “We are very excited to have led Ometria’s Series B – a great example of how we invest in truly pioneering entrepreneurs that are creating innovative solutions through tech. Ometria will use this investment to revolutionise the retail marketing industry with its AI capabilities. We want to see entrepreneurs put their customers at the heart of the business and that is precisely what the team is doing.
“Ometria has built a genuinely thrilling piece of technology delivering a highly tailored product to create an even more precise, personalised offering to its customers.
Octopus Ventures looks forward to being part of the innovative team behind Ometria and we are excited to work with them as it expand on its international capabilities into the US.”
Eduardo Piedade, Sonae IM’s CEO, added, “We are thrilled to continue to support Ometria in this new phase of growth. We know from our experience how important it is to provide a personalised marketing experience and Ometria’s solution plays a key role in solving this problem for retailers”.