Consumers in the United Kingdom spent more than $175B online last year, and sales are predicted to increase by more than 10% in 2022, resulting in a market value of at least $200B. The need for businesses to maximise performance and differentiate themselves from their rivals has never been more intense than it is now, thanks to the unrelenting growth of e-commerce and rising customer expectations.
Conjura, a Dublin-based e-commerce data analytics company, has raised €15M in funding to bet big on the industry. Act Venture Capital and MiddleGame Ventures co-led the Series A investment, with Tribal VC joining in.
The fresh funds will allow the Ireland based company to expand its e-commerce platform in order to meet the sector’s growing digital needs in a multi-product solution. It will also grow its operations in the United Kingdom and Ireland, as well as into many overseas markets at the same time.
Founded in 2018 by Fran Quilty and Wayflyer chief executive Aidan Corbett, Conjura is an e-commerce data analytics platform that provides businesses of all sizes with better insight over their complete operations on a single cloud-based platform, rather than many isolated solutions. Its real-time analysis combines data from fulfillment, warehousing, and supply chain sources with online/offline sales and marketplace transactions, as well as customer metrics, to provide automated insights and recommendations across all aspects of e-commerce, allowing businesses to improve their overall performance.
Fran Quilty, CEO and co-founder of Conjura says, “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, Act Venture Capital added: “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.”
If Conjura meets its targets, more staff expansion could be on the cards. It currently has 65 employees. The US market is the company’s next target for expansion. Conjura already has some customers there despite no concrete “go to” market strategy.
For the previous few years, the company has mostly operated in stealth mode.
Companies can use a 360-degree picture of their operations to compare their business performance to industry standards, obtain deep-dive information to show their strengths, shortcomings, and possibilities for growth, and make wise decisions across all departments. Conjura claims to integrate with all major e-commerce tools and systems, allowing enterprises to have a scalable and completely integrated data architecture.
Across numerous e-commerce sectors, the company works with fast-growing brands such as Naturecan, Wild, Saint+Sofia, Percival, and CleanCo.