RetailDistil.ai, a customer data platform that helps eCommerce businesses to understand customers’ behaviour and boost sales, has raised £1.1 million in a funding round led by Mercia Ventures and supported by angel investors. According to Business Cloud, the funding will enable the Exeter-based company to further enhance its platform and expand its sales and marketing team to help scale the business.
RetailDistil.ai, a customer data platform that helps eCommerce businesses to understand customers’ behaviour and boost sales, has raised £1.1 million in a funding round led by Mercia Ventures and supported by angel investors. According to Business Cloud, the funding will enable the Exeter-based company to further enhance its platform and expand its sales and marketing team to help scale the business.
Distil.ai uses AI and machine learning-powered data tools to help optimise engagement for every customer. The platform captures buying signals and behaviour across a range of digital platforms then distils the data into a single customer view and categorises customers into segments, enabling companies to channel marketing towards those that drive the best results. It can provide guidance on how sellers can improve their marketing, what products are selling well and whether they need to broaden or reduce their range, what sales strategies are working and whether targets will be met. It can also make informed recommendations on discounting strategies and promotions.
The platform enables companies of all sizes without their own in-house data teams to access powerful business intelligence for ecommerce, and use their data to grow their business. Founded in 2018 by data scientist Gerry McNicol, Distil has attracted high-profile customers including AQL, Crowdfunder, CMO Stores, Eden Project, Flavourly, Mancave and Crowdcube – whose founders backed the business at its inception. The company has developed its own Shopify app which allows businesses selling via Shopify to trial its platform free of charge. It is also planning to launch apps for other online marketplaces.
CEO Gerry McNicol said: “At Distil, we are passionate about the power of data. It is the lifeblood of any business, shaping the landscape of industries around us. However, to truly harness its potential and transform it into a strategic asset, the way we approach and manage data must evolve. This is the driving force behind Distil.ai. Our mission is simple – if you want your data to guide your strategy, empower your marketing, and boost your profits, it’s time to start ‘Distiling’ it.
Sources: https://businesscloud.co.uk/news/distil-ai-raises-1-1m-to-boost-lifeblood-of-any-business/
