Decibel has closed an extension to its Series B investment round at $40 million.
The latest infusion was funded by Perwyn, an entrepreneurial, family-funded investment firm based in the UK. It includes the initial $17 million investment from Draper Esprit, Eight Roads Ventures and John Simon, via his Ventureforgood
investment entity. This brings the company’s total funding to date to $54 million.
Because of the effects of COVID-19, now more than ever companies are prioritising the optimisation of digital experiences.
To optimise digital experiences, organisations need to look beyond traditional analytics such as page views, click-through and bounce rates, which show brands what customers do. Instead, Decibel shows brands why customers make certain decisions online by measuring and understanding customer experiences. Only then can brands increase conversions.
Powered by AI and enriched by machine learning, Decibel’s digital experience analytics solution captures and quantifies unique experience data to pinpoint problem areas on brands’ websites and apps. With this intelligence, brands can alleviate user frustrations at scale and capitalise on conversion opportunities.
Decibel’s technology is used by 250 of the world’s largest brands spanning the retail, financial services, travel and hospitality and media industries, including Toyota, CVS and Fidelity.
London-based Lifted raises £1.6m
Decibel, though headquartered in Europe, has seized this opportunity and already sees nearly 50% of its business coming from North America over the last three years. This new infusion of capital will enable Decibel to continue growing its presence on the continent and building on its sophisticated product.
Andrew Wynn, Partner at Perwyn said, “Decibel is the market leader in the digital experience space. Its best-in-class technology and strong customer success team makes the company an easy win for enterprise organisations wanting more from their digital channels.
“It’s an incredible company, and we’re thrilled to partner with them as they propel through the next wave of growth.”
Ben Harris, CEO and Co-founder, Decibel added, “One significant, long-term impact of the current health pandemic is the pace at which businesses engage with their customers digitally. Decibel provides a window into the digital customer experience through its ability to automatically identify and prioritise critical conversion opportunities.
“I’m honoured by the support of our new and existing investors, customers and partners, and the hard work of our growing team. Partnering with Perwyn is further validation that with our unique data set, we’re positioned to become a very large organisation.”