Back in 2017 Ometria, an “AI-powered” customer marketing platform raised $6m in Series A funding to add to the $11m it had already raised. Its platform is all about allowing retailers to send individually personalized marketing messages across several brand touchpoints.
Today it’s announced that it’s raised $21m in a Series B funding led by London-based Octopus Ventures, with existing investors Sonae IM, Summit Action, Samos and Adjuvo, as well as ten early angel investors, making further investments. Marieke Christmann from Octopus Ventures and Eduardo Piedade from Sonae IM both join Ometria’s board.
The funding will be used to accelerate Ometria’s product development, expanding the platform’s specialist retail marketing capabilities and further innovating its AI-based technology.
Off the back of the funding round, Ometria will also be opening its first US-based operation in New York.
Ometria’s schtick is that it addresses the fact that consumers will no longer tolerate the torrent of communication send towards them that is basically irrelevant to them, especially as the retail environment becomes ever more competitive.
Its main competitors are spread across companies like email service providers (Emarsys, Sailthru, Selligent, Bronto, Dotmailer), behavioral marketing tools (CloudIQ, SaleCycle, Yieldify) and customer insight companies (More2, AgileOne). Its argument is that none of these companies were developed specifically for retail, or to create and use a unified predictive profile of each customer.
Ometria’s CEO and Founder Ivan Mazour says: “We’re all overloaded with information and communication, it’s relentless and must be addressed. Retail marketing has contributed heavily to this, with most marketing experiences being ones we simply don’t enjoy. Ometria solves this ever-increasing problem for hundreds of retailers, and hundreds of millions of customers.”
It now has a client base of 200 retailers, including Hotel Chocolat, Fred Perry, MADE.com and Notonthehighstreet.com. Its senior leadership team now includes Pete Crosby (formerly of Triptease) as Chief Revenue Officer, Rob Lord (formerly of CheetahMail) as VP of Professional Services and Jennifer Yorke (formerly of Bazaarvoice) as VP of Customer Success.
Marieke Christmann, Investor, Octopus Ventures, says, “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 revolutionize 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.