Balderton Capital leads $7.5m series-A for QuBit

The funding will be used to bring the company's new software as a service (SaaS) solution to market and develop its existing tag management product OpenTag. The company also plans to expand into Europe and the US, taking advantage of a growing big data market.

Company
QuBit has developed a range of SaaS products that use big data collection and analysis techniques to optimise and personalise business websites. The company's current customers include Arcadia Group, John Lewis, BBC and Staples. QuBit's revenues grew by 300% in 2012.

QuBit was founded in London in 2010 by Graham Cooke, Ian McCaig, Daniel Shellard and Emre Baran - four former product, engineering and marketing executives at Google. The company employs 45 people.

People
Bernard Liautaud, general partner at Balderton Capital and founder of Business Objects, led the deal for the GP and will also be joining QuBit's board.

Advisers
Company - Orrick, Herrington & Sutcliffe (Legal).

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