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London-based startup Qubit gets $40m in Series C round led by Goldman Sachs

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London-based startup Qubit has closed a $40m Series C round led by Goldman Sachs.

The startup, founded in 2010 by four former Google employees, also drew support from Sapphire Ventures, Salesforce Ventures and Accel.

With approximately $76m of funding raised to date, Qubit has developed a big-data analytics platform which it says could facilitate online selling.

CEO and co-founder Graham Cooke, said in a statement: “The industry has been dogged by ineffective front-end point solutions. Now the market is quickly realising that customer experience delivery is not a ‘front-end play’ but rather requires a large, integrated enterprise scale resource and a deep understanding of the customer.

“This is an area that Qubit invested in early on. Our platform allows deeper customer understanding, better insights and faster action meaning our clients can give their customers more than their competitors can,” he added.

Alongside the funding announcement, the startup said that David Reis, MD and head of tech at Goldman Sachs’ Merchant Banking Division in Europe, Accel’s Bruce Golden and Balderton Capital’s general partner Bernard Liautaud would join its board.

Qubit – which already works with brands including Topshop, Jimmy Choo and John Lewis – says it will use the funding to expand its engineering team.

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