Qubit: The Quest For Next-Generation Customer Experience Management
By Andreas Weiskam, managing director, Sapphire Ventures
Personalization is the white whale of marketing. Until today, most personalization online has focused on known customers with existing profiles. This is why targeting registered customers via email has been the preferred and most effective channel to date. However, most website visitors are unidentified or unknown and emailing, far from being real time, might chase an intent that the user may have already acted upon or a moment that has passed.
Various approaches have led to numerous point solutions trying to find the elusive customer in the wide ocean of the web. While some personalization is better than none, simple A/B testing, content automation, approximation of intent by bucketing users into segments and cohorts, and solutions focused on discrete stages of the customer journey all have their limitations. The larger opportunity lies in continuous personalization across channels and devices in real time.
This is why we are excited to announce our participation in the Series C financing of Qubit. The company’s next generation platform effectively is a data engine that fuels key personalization features and API integrations across all channels.
Here’s how it works.
· Qubit collects user data from website visits at the most granular level.
· This data is then used to build user profiles with individual records creating deterministic IDs versus relying on user segments, which are a less likely indicator of intent.
· As the system works in real time it combines historical and in-session data to create a service-centric personalization model.
· Qubit both works at a UI level and has server side integrations.
· The company’s enterprise customers use the platform for product recommendations, on-site and search personalization, social as well as mobile offers, and email marketing including shopping cart abandonment emails, to name a few.
Unlike front-end solutions which capture only part of the customer journey, Qubit’s architecture enables a holistic view of the customer. Its data-driven platform enables highly-targeted customer experience management across all points of interaction.
Qubit is a great example of a Sapphire Ventures investment originating in Europe, but with global ambitions. Co-founders Graham, Emre, Daniel and Ian form a very talented and passionate team that aims to win the global market. The team initially picked the United Kingdom as the most competitive e-commerce market to launch their platform. Having become the clear category leader in the enterprise-focused personalization space in the United Kingdom, Qubit is now also gaining momentum in the United States and continental Europe.
We are thrilled to be on board with what we believe is the best team, most comprehensive solution and most complete vision in the customer experience management space. We are looking forward to supporting the Qubit team on its voyage to becoming the digital experience management company for enterprises worldwide.
The information set forth herein is not intended to constitute investment advice and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures. Sapphire Ventures does not solicit or make its services available to the public and none of the funds are currently open to new investors. Past performance is not indicative of future performance.
The portfolio companies referred to above do not necessarily represent all of the investments made or recommended by Sapphire Ventures, and were not selected based on the return on Sapphire Ventures’ investment in them. It should not be assumed that the specific investments identified and discussed herein were or will be profitable. Not all investments made by Sapphire Ventures will be profitable or will equal the performance of the companies identified above.