Ometria – retail-tech – $5m raised (Inventure Partners, Force Over Mass, SAATCHiNVEST)
Customer expectations are changing fast and the way to generate more sales in the modern market is to give people the best user-experience, says Ivan Mazour, the Cambridge educated founder of Ometria.
The luxury of being a shopper today is there is always another outlet that will sell you the goods you need if you are dissatisfied with your shopping experience. The days of competing on price alone are long behind us – there is simply too much competition – the trick is to make your customers feel special.
This is why retailers need the Ometria platform, Mazour believes – to leverage the platform’s big data analytics which can be translated using AI and machine learning into better customer experiences.
This is a huge market – $820 billion in the US and UK alone according to Mazour. Ometria has mapped the customer journeys of more than 20 million people – around one third of the population of the UK; Ometria, Mazour says, “knows what each of these individuals wants to buy, and how to get them to buy more”.
The platform aggregates transaction, interaction and even offline data to create detailed customer profiles, which it then uses to not only provide key insight and metrics about its client customer base, but to directly power multi-channel communications strategies, all from within the platform.
Approximately one hundred retailers are currently using the platform, including clothing retailers Finisterre, who have seen an increase in revenue per email of 10x since they became an Ometria client, Graze, Tea Pigs and Wolf and Badger.
Ometria’s team now numbers 30 and is supported by an experienced board of investors and advisors. There is considerable aptitude within the ranks; anbrains trust of mathematicians, data scientists and experienced marketers.
Investors in Ometria include SAATCHiNVEST, Inventure Partners, Force Over Mass Capital as well as notable angels Alastair Mitchell, founder of Huddle, Tim Jackson, founder of QXL, and Alicia Navarro, founder of Skimlinks.