Accel backs Qubit’s $26m series-B

Qubit will use the fresh funding to expand its presence in the US and speed up product innovation. It claims the e-commerce market is expanding at a double-digit growth rate worldwide.

Previous funding
In December 2012, Balderton led a $7.5m series-A round for Qubit. The capital was earmarked for the market entry of Qubit's software-as-a-service product and for the development of its existing tag management product OpenTag. The customer data platform also planned to expand into Europe and the US.

Company
Founded in 2010 by four former Google employees, Qubit helps e-commerce businesses improve their users' experience by providing a personalisation service. The company is headquartered in London, with additional offices in New York and Paris.

Its technology collects information about user interaction with websites and analyses it to identify patterns of behaviour. By personalising websites, Qubit claims companies can increase their revenue and make their offerings more efficient. It processes more than 1.5 billion online customer events every day, building up a profile on visitor behaviour and providing testing of new features.

Qubit clients include Hilton Hotels, Jimmy Choo, Staples, Topshop and Uniqlo. It saw a 260% growth in sales in the first half of 2014 compared with the same period in 2013.

People
Graham Cooke is CEO and co-founder of Qubit. Bernard Liautaud is general partner at Balderton and is a member of Qubit's board. Joining him is Bruce Golden, who led the deal for Accel.

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• Topics
• UK / Ireland
• Expansion
• Technology
• United Kingdom
• Balderton Capital