AI-backed capabilities are experiencing a substantial rise in demand across the retail industry due to a number of benefits they offer over traditional marketing. Marketing and selling of retailer products from the AI platform has made it easier for customers to find and purchase any product they need, laying down the foundation for growth of the AI-based retail platforms.  

Ometria Ltd., a UK based customer marketing platform founded in 2013, reportedly announced that it raised $21 million in a Series B investment round that was led by Octopus Ventures along with its existing investors Summit Action, Samos and Adjuvo, and Sonae IM as well as ten early angel investors.

The company would utilize the funds to boost its product development and expanding its specialist retail marketing abilities and innovate its AI-based technology further.  

Off the back of the investment round, the AI-powered platform would also be inaugurating its first United States based operation that would be located in New York.

Earlier in 2017, the firm had raised $6 million in the series A investment round in addition to its already raised $11 million.

Ivan Mazour, CEO and founder of Ometria stated that junk mail through the letterboxes of people are now replaced by an array of messages as well as notifications, may it be through text, email, Instagram, WhatsApp or a dozen of other channels

Mazour added that everyone is overloaded with communication and information, which is relentless and should be addressed. Retail marketing has heavily contributed in this, with several marketing experiences being those which people simply don’t enjoy.

Mazour added that Ometria provides solutions to this ever-growing problem faced by hundreds of retailers, as well as hundreds of millions of end customers.

Ometria addresses the fact that its customers can no more bear the irrelevant communication torrent sent to them, and that too when the retail environment has become even more competitive. This is the company’s schtick.

Ometria presently has a 200-retailer client base, which includes Fred Perry, Hotel Chocolat, Notonthehighstreet.com and MADE.com.

The senior leadership team of the company includes Pete Crosby (former Triptease executive) as the new Chief Revenue Officer, Rob Lord (former CheetahMail executive) as the new VP of Professional Services and Jennifer Yorke (former Bazaarvoice executive) as the new VP of Customer Success.

Source credit: https://techcrunch.com/2019/09/23/customer-marketing-platform-ometria-raises-21m-series-b-round-led-by-octopus-ventures/