Cloud IQ is a commerce optimization platform based out of Europe that interprets data and behavior to provide individual experiences intended to turn buyers into loyal customers and fans. The company recently announced the end of its latest funding round, bringing in £4 million in venture funding.
Companies offering investment in this round include PayPal, Nauta Capital, Finance Wales, and Juno Capital. This investment will be used to democratize digital marketing, which will allow all sorts of businesses the ability to deliver individual user experiences that are useful for both merchants and consumers.
Co-founder and CEO, James Critchley, said, “To close this round of funding, with participation by PayPal, is testament to the momentum we are building at Cloud IQ. We are pioneering new technology which makes the internet work better for the individual, starting with eCommerce.”
PayPal is a major global company that offers online payment solutions for users. Users can make transactions through their account balances, credit cards, or financing without having to share financial information outside of the platform. Some of PayPal’s other recent investments went into LendUp, Virta, Acorns, and Pulsate.
Juno Capital does early stage venture investments. It offers asset management services for a network of individuals and family offices in the United states. They mainly focus on niche property, venture capital, and asset backed fixed income. The company has previously invested in Volo Commerce, Purple, Destiny Pharma, and Domainex.
Finance Wales was founded in 2001 by the Welsh Assembly Government. It is an independent company that provides commercial funding to Welsh SMEs. They invest in private and public funds, including EU funds. Other recent investment recipients include enModus, Properr, and Alesi Surgical.
Nauta Capital is a venture capital firm that invest in early stage technology companies. Their main niches are B2B software, disruptive digital media companies, and enabling technologies for the Internet and mobile. The firm has $300 under management and makes investments in the USA and Western Europe.
Cloud IQ Information
What Cloud IQ is good at is making e-commerce sites work better without requiring changes to the site. The platform analyzes data to provide personal experiences. Many well-known brands, including Samsung, EE, and TUI, ae using the platform as it provides a more complete customer experience while increasing marketing ROI and driving revenues north.
“Through our recent partnership with Cloud IQ, it is clear we share a common vision to improve the consumer journey,” said Jeremy Jonker, VP, Head of Global Corporate Development at PayPal. “Today, Artificial Intelligence powered technology is finally able to deliver individualized consumer experiences at scale. PayPal is excited to support Cloud IQ as they bring to market solutions that improve the overall shopping experience on both web and mobile.”
Cloud IQ offers an innovative and exciting platform that many companies are happy to have implemented into their own websites. With this new round of financing, it’s likely we can expect even greater things from the company in the future.