Conjura, which claims to be the leading e-commerce data analytics platform, recently announced that it secured €15 million in Series A funding.
The investment round was co-led by Act Venture Capital and MiddleGame Ventures, along with contributions from Tribal VC.
Conjura will use the capital “to enhance its e-commerce solutions to address the sector’s ever-increasing digital needs in a multi-product solution.”
The firm also announced plans “to broaden its UK and Ireland operations and expand into several international markets simultaneously.”
Conjura claims that it is pioneering the next generation of e-commerce data analytics by “equipping businesses of all sizes with enhanced visibility over their entire operations on a single cloud-based platform, as opposed to multiple and disconnected tools.”
Traditionally, e-commerce data analysis has been confined “to one section of operations, such as marketing or customer retention.”
Conjura’s real-time analysis is “overcoming this limitation by combining data from fulfillment, warehousing, and supply chain sources, with online/offline sales and marketplace transactions and customer metrics.”
The new, integrated approach to data analysis “pioneered by Conjura provides automated insights and recommendations across every aspect of e-commerce to accelerate overall business performance.”
Fran Quilty, CEO and co-founder of Conjura, stated:
“Consumers last year spent over $175 billion online with U.K. merchants, and those sales are expected to grow by more than 10% in 2022 – representing a market value of at least $200 billion. The relentless growth of e-commerce combined with rising customer expectations has meant that the need for businesses to maximize performance and differentiate themselves from their competition has never been as acute.”
Quilty added:
“Our unique approach to data analysis and our ability to provide full visibility into a company’s performance in one easy-to-use platform represents the next generation of e-commerce solutions. We are providing the tools businesses need to enhance their operational efficiency, as well as ensure they are providing the seamless digital experience today’s consumers expect.”
Debbie Rennick, General Partner at Act Venture Capital, remarked:
“E-commerce companies need data platforms that address all aspects of their business and Conjura uniquely offers that capability. It is a data driven decision making platform designed for next generation e-commerce. Their strong growth to date is testament to the market opportunity and the real need for Conjura’s approach. The investment will accelerate this growth and we are excited to support the team and the opportunity ahead.
Patrick Pinschmidt, General Partner at MiddleGame Ventures, said:
“Conjura is redefining e-commerce analytics by solving real pain points for the sector, paving the way for a host of innovative solutions to drive more efficient performance through actionable data and integrated services on top of its leading technology.” He added, “By offering an integrated analytics solution, Conjura is well-positioned to layer in additional solutions that help businesses enhance their customer engagement, back-office operations, and financial management. We are excited to partner with the exceptional team at Conjura to realize the great promise of its platform for the e-commerce sector.”
Conjura’s platform combines benchmarking, company reporting and data science “to propel e-commerce companies forward.”
Companies are able “to compare their business performance against industry standards, receive deep-dive reporting to highlight their strengths, weaknesses, and opportunities for growth, as well as make smart decisions across all departments based on a 360-degree view of their operations.”
Conjura seamlessly integrates “with all leading e-commerce tools and systems, providing a scalable and fully integrated data infrastructure for businesses.”
Conjura is on its way to “becoming the performance analytics platform of choice by working with fast-growing brands such Naturecan, Wild, Saint+Sofia, Percival, CleanCo, across multiple e-commerce sectors.”