page-header.jpg

Cloud IQ Blog

At the beginning of infinity…£4m funding closed

Posted by James Critchley on Friday, 10 Mar,2017 - 13:08

In business, you work through the difficult days, relish the good days, and plan always for the best days still ahead. Through all of that, every now and then comes a moment that you know you'll always remember. For me, this is one of those moments.

I've said elsewhere that mentioning conversion rate optimisation (CRO) at dinner parties won't win you many ears but, with a CRO-driven 0.2% uplift in sales resulting in a revenue increase of up to 10%, every ecommerce operator should listen hard. Now, the demonstrable benefits of the cloud.IQ platform have been recognised with an investment of GBP£4,000,000.

That's a lot of zeroes. So what do they all mean?

£4 MILLION IN FUNDING

Zeroing in on serious innovation and growth

For starters, this Series A investment round from Nauta Capital, Finance Wales and Juno Capital means that cloud.IQ is now among the best-funded CRO platforms — so all those zeroes add up to big market confidence in our technology.

I'm sure that many of our existing clients would attest that cloud.IQ's fully automated artificial intelligence (AI) and machine learning enables them to drive up revenues while reducing costs. But this backing also gives me pause to consider just how far we've come.

We've always had serious ambitions — and we're proud to have as customers brands like Samsung, EE and TUI — but the additional cash will allow us to grow our talent, and with it our ability to develop our product roadmap. More people. More innovations. More speed to market.

Our future is here and now

This isn't idle daydreaming. Very soon, cloud.IQ will expand into several new offices, and open a thoroughly modern operational hub in Cardiff, UK, to coordinate sales and bolster our support. I believe this is a clear demonstration of our focus on and commitment to our customers.

As well, it is key to my role as CEO of cloud.IQ to foster a culture of innovation and creativity among our many smart and committed staff. These are ideals that I promote every day and everywhere within the business, and I want to emphasise that this culture will extend to all parts of our organisation. I want both employees and customers to understand that we're all about fresh ideas. If you have one that you believe will improve the way we operate, tell me.

At the beginning of infinity

Building cloud.IQ both as a company and a technology platform has been hard work. At a moment like this it would be all too easy to slip into hyperbole, but it is a matter of fact that the possibilities of AI-driven machine learning are truly limitless: we literally do not know how much new knowledge our technology might gather in the future.

Our platform is already delivering significant and measurable results for ecommerce operators of all sizes, and all around the world.

With that in mind I wish to offer my heartfelt thanks to all those who have helped cloud.IQ to get to this point: that's our people; our investors; and our customers. I want to assure you all that while I'll certainly relish this as a good day, I'm focused sharply on the best days ahead — because we have so much more to achieve.

Topics: E-commerce, Conversion Optimisation, Artificial Intelligence, Investment

If you liked this article, you might like to subscribe to our newsletter for the latest on e-commerce and to keep up to date with our webinars, events and whitepapers.