London-based MarTech firm Tailored.to has raised a $900,000 (£698,700) Seed from investors including Amadeus Capital and Ascension Ventures.
The round also drew support from backers including Susanne Given, chairman of Made.com; Nick Kingsbury, the former head of software at 3i; and Martyn Bentley, the EMEA head of Prohaska consulting.
Daniel Murray, founder of shopping app Grabble also joined the round alongside other business angels from the media, data and publishing sectors.
Co-founder Martin Bailie told UKTN: “We are delighted to close this investment, which will allow us to deliver on our mission to eradicate boring product search and power 100% personalised, GDPR compliant, marketing for brands.
“We’re taking our personalised shopping assistant to many more publishers over the coming months and the engagement data we’re getting significantly exceeds our forecasts. It proves the business can scale internationally.”
Tailored.to seeks to improve product search for consumers, allowing them to receive bespoke recommendations based on their preferences. So, for example, if a user wanted to purchase a pair of headphones, they would have to fill out a five-step survey featuring questions including the kind of music they usually listen to, where they listen to it and their budget.
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Once the survey is complete, the user receives a series of product recommendations based on their preferences and is then able to make the desired purchase.
The company, founded in 2015, also works with publishers to help drive consumer purchases by acting as a personalised shopping assistant aligned with relevant editorial articles. Additionally, Tailored.to monetises by selling anonymised, ‘GDPR compliant’ audience data to advertisers.
Murray commented on his decision to invest in the company: “I’m incredibly excited by their vision and they’ve clearly shown they’re a team that can execute a big idea on a shoestring budget so I’ve been delighted to participate and back founders I believe in so strongly.”
The company will use the cash to strike additional partnerships with publishers and deliver a personalised marketing platform for advertisers.
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