Retail marketers have been promised personalisation by almost every marketing technology vendor and yet the consumers’ inboxes rarely reflect that promise. The cause of this customer experience gap lies in their tech stack. London-based Ometria, an AI-powered customer marketing platform, is built to close this gap.
The customer data and experience platform has received £8 million in investment from CIBC Innovation Banking, which backed Phrase. With this round, the total funding raised by the company accounts for over $70 million. Ometria plans to use the investment to further develop and advance the retail-specific AI capabilities of its platform.
Ivan Mazour, CEO and Founder of Ometria, said: “This is a great vote of confidence, and we are very excited to work with CIBC Innovation Banking and use this funding to further accelerate the development of our retail-specific AI Co-Marketer. The capital will also fuel our ongoing North American expansion, which is a huge market that has shown a clear need for our product.”
Thomas Dods, Director at CIBC Innovation Banking’s European Office, said: “We are excited to be supporting Ometria at such an important stage of growth. The company has a tremendous opportunity ahead, thanks to the platform’s leading-edge AI capabilities. The CIBC Innovation Banking team is looking forward to supporting Ometria in its continued growth journey.”
AI-powered customer marketing platform
Ometria was founded in 2013 by Ivan Mazour, Djalal Lougouev, James Dunford Wood, and Alastair James. The platform helps retail brands drive customer-centred business growth by creating next-generation, data-driven experiences at scale.
The unified ecommerce intelligence platform is a simple-to-integrate and easy-to-use software solution, which allows online retailers to leverage data to maximise the profitable growth of their business.
Its Retail Success Model is a first-of-its-kind data science model for driving CRM growth in retail. It combines four proprietary AI algorithms that analyse a retailer’s CRM performance and deliver a bespoke marketing plan for reaching their revenue goals. Also, its Co-Marketer platform uses data science to automatically create and optimise personalised marketing experiences several communications platforms.
Ometria is claimed to deliver a 430% ROI for customers, with an average payback period of less than six months, highlighting the clear and direct revenue growth that 1:1 customer experiences can drive for retailers. It has over 200 clients, including Steve Madden, Aden + Anais, Pepe Jeans, MADE.com, Notonthehighstreet.com, Hotel Chocolat, Feelunique and others.