The e-commerce technology company, Qubit has secured USD 26 million in Series B led by Accel Partners, Balderton Capital and Salesforce venture. The raised funds will be used to fuel rapid expansion of Qubit’s presence in the US and accelerate its ongoing programme of product innovation. As part of the deal, Accel Partners’ Bruce Golden, an early investor will join Qubit board.
London-based Qubit was founded by four ex-Googlers – Daniel Shellard, Emre Baran, Ian McCaig and Graham Cooke in 2010. It has has achieved 260 percent year on year growth in sales in the six months to June 2014. Recently, it had received USD 7.5 million in Series A and USD 1.4 million in an unknown round. Including this round, the company had secured a total capital of USD 34.9 million.
At present, Qubit works across Europe and Americas with e-commerce, publishers & lead generation businesses and consisting of 101-250 employees in its current team.
Graham Cooke, Qubit’s CEO and co-founder, said: “We’re delighted to welcome Accel into the Qubit family and Bruce Golden onto our board of directors. To date we have carved ourselves a position in the market by offering clients the market’s best, most flexible and integrated range of personalization applications; ones that drive real uplifts that CFOs can see in the bottom line.”
Bruce Golden said: “Qubit is the solution of choice for businesses trying to develop a 360 degree view of their customers and prospects, then converting that insight into actionable personalized content and offers to drive real uplift.”