Led by Balderton Capital, the EU’s leading venture investor, we are excited to announce that Qubit have closed a $7.5M Series A funding. Bernard Liautaud, General Partner at Balderton Capital and previously founder of Business Objects, will also be joining Qubit’s board.
With a 300% growth in revenue and over 1,000 customers added to our SaaS platform, Qubit has seen rapid growth during 2012. The funding will be used to bring our new SaaS platform to the market and further develop OpenTag, our hugely successful SaaS tag management product. We will also use the funding to help build Qubit’s presence in the US and mainland Europe.
Graham Cooke, CEO of Qubit, said: “Our technology is about driving website efficiency and that’s a compelling message in a market where competition is getting more and more intense. Buyers are shopping around more, traffic is getting more expensive and purchase cycles are becoming longer. Our products help site owners to understand their customers and to seamlessly act upon that understanding to drive revenue and profit.
“To get the backing of an organisation like Balderton is a strong validation of our business and our technology. As well as bringing us finance, we also get the involvement of Bernard, the founder of the most successful business intelligence company in history. That sort of input is going to be invaluable to us and can only help to build this business into a world leader”
Bernard Liautaud, General Partner of Balderton Capital, said: “Qubit is applying big data techniques to the web analytics and optimisation space, bringing together two of the most important technologies right now. What’s most impressive with the Qubit approach is that they’ve created more than a point solution; they’ve already developed a comprehensive suite of products that let website owners collect, understand and act upon the huge amounts of data generated by customer interaction with their websites.”
Read the full article on TechCrunch here.