Customer marketing platform for retailers Ometria has announced it has closed a $21m in Series B funding round.
The round was led by Octopus Ventures, with existing investors Sonae IM, Summit Action, Samos and Adjuvo, as well as ten early angel investors, making further investments. Marieke Christmann from Octopus Ventures and Eduardo Piedade from Sonae IM will both join Ometria’s board.
The funding will be used to accelerate Ometria’s product development, expanding the platform’s specialist retail marketing capabilities and further innovating the AI-based technology being developed at Ometria Labs for the company’s 200 retailer clients.
In recent years, consumers have become increasingly frustrated at the marketing experiences retailers offer them. Lack of insight into individual customer preferences and behaviour has left retail marketers confined to traditional marketing techniques, which overload consumers with irrelevant information in order to make sales.
Ometria was founded on the realisation that consumers will no longer tolerate the torrent of communication that has no relevance to what they are interested in. Marketers need to take responsibility for the impact of every communication they send, and be empowered to ensure that every marketing experience they create for any customer is a positive one.
Ometria’s CEO and Founder Ivan Mazour said: “We’re all overloaded with information and communication, it’s relentless and must be addressed. Retail marketing has contributed heavily to this, with most marketing experiences being ones we simply don’t enjoy.
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I’m proud that Ometria solves this ever increasing problem for hundreds of retailers, and hundreds of millions of customers. I’m incredibly excited that Octopus Ventures has partnered with us to help even more retailers make sure that their customers have marketing experiences they truly love.”
Marieke Christmann, Investor, Octopus Ventures, added: “We are very excited to have led Ometria’s Series B – a great example of how we invest in truly pioneering entrepreneurs that are creating innovative solutions through tech. Ometria will use this investment to revolutionise the retail marketing industry with its AI capabilities. We want to see entrepreneurs put their customers at the heart of the business and that is precisely what the team is doing.
Octopus Ventures looks forward to being part of the innovative team behind Ometria and we are excited to work with them as they expand on their international capabilities into the US.”