QuBit raises $7.5M for e-commerce personalization with big data

Company was founded by 4 former Google employees

London-based QuBit, a big data startup company, has raised $7.5 million to further develop its OpenTag product, which lets sites manage tags from numerous analytics, marketing and ad services from one place, via the cloud. The company was founded by four former Google (NASDAQ: GOOG) employees, reported Tech Crunch.

The funding, which was led by Balderton Capital, also will be used to further develop a new Software-as-a-service analytics platform, which it plans to push into the U.S. market. The new Saas platform was launched this week.

Graham Cooke, QuBit's CEO in America, says that the founders chose London as its initial base because the U.K. was one of the most acute markets when it came to e-commerce. Cooke is also one of the group's co-founders.

"Proportionately, people spend more money and time online here than in other countries," he said. "But sites here also grapple with some of the worst conversion problems meaning they get a lot of visits that aren't converting to sales."

Even though the QuBit founders are former Google employees, they haven't fully cut ties with the tech giant. OpenTag "integrates with Google's analytics services and Google's own, free tag-management product, Tag Manager," Tech Crunch said.

For more:
- see the Tech Crunch article

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