Conjura Secures €15 Million in Series A Funding to Pioneer the Future of e-Commerce with AI-Driven Analytics
Conjura, the leading e-commerce data analytics platform, today announced that it has raised €15 million in a Series A funding round co-led by Act Venture Capital and MiddleGame Ventures, with participation from Tribal VC.
Conjura, founded in Ireland in 2018, and with offices at NexusUCD, the Industry Partnership Centre and in London, 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 company also announced plans to broaden its UK and Ireland operations and expand into several international markets simultaneously.
Conjura 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.
“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 maximise performance and differentiate themselves from their competition has never been as acute,” said Fran Quilty, CEO and co-founder of Conjura.
“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.”
“E-commerce companies need data platforms that address all aspects of their business and Conjura uniquely offers that capability,” said Debbie Rennick, General Partner at Act Venture Capital.
“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 CurrentBody, Naturecan, Wild, Carbon Theory, Saint+Sofia, Percival, CleanCo, across multiple e-commerce sectors.
ENDS
26 April 2022
For further information contact Micéal Whelan, Communications and Media Relations Manager, NovaUCD, e: miceal.whelan@ucd.ie.