Ireland’s ChannelSight, an ecommerce enablement and analytics company has today announced a €3.3 million investment in the company led by Nauta Capital, with ACT Venture Capital participating in the round and support from Enterprise Ireland. ChannelSight staff numbers will also increase to 74 as 40 new jobs will be created for their growing international team.
ChannelSight was founded in 2013 by CEO John Beckett, CTO Kieran Dundon and Niall O’Gorman. The company is experiencing rapid growth, with impressive 7-figure annual revenues being achieved since its foundation two years ago. ChannelSight currently operates in 37 countries globally and is working with brands such as Cadbury, Oreo, Philips, Veet and many others.
Speaking on the investment John Beckett pictured above said the purpose of this raise is to allow ChannelSight to scale at a faster pace in terms of sales and marketing efforts and to invest in further building the company’s partner network in Europe and the United States, “We have developed highly sophisticated technology that is already being used by some of the most respected global brands such as Philips, Mondelez International, RB, and Bosch. This investment will help us to scale at a faster pace and enable us to ultimately help brands and partners to capture a bigger slice of an online shopping market that is estimated to be €477 Billion in Europe this year alone and growing at 15% annually.“
Speaking on their innovative technology cofounder and CTO Kieran Dundon said “The rise of shoppable content is changing the face of advertising making it easier than ever for consumers to make a purchase online while giving brands greater visibility into media effectiveness. ChannelSight facilitates a frictionless path to purchase across all owned, earned and paid media and this end-to-end visibility from shoppable content is the next frontier for brands.”
Dundon went on to say that multichannel view and data analysis sets ChannelSight apart, “By simplifying the customer-buying journey across all channels including online video, brand websites and uniquely at scale on multiple social media sites like Twitter and Facebook, we ensure that when a consumer is motivated to make a purchase, they can do so easily without competitive distraction. The data is what is really valuable though – by helping brands to optimise their advertising and other content we can not only increase direct and indirect conversions, but close the loop to improve the return on investment from their entire marketing spend across all digital channels.”
ChannelSight seamlessly connects users who are engaging with a brand’s digital content by providing a cross-platform, omni-channel ‘Buy Now’ button service that allows online shoppers to quickly locate a partner retailer where they can easily purchase a given product from any device. This significantly increases engagement with the media and likelihood of conversion to a sale for the brands – in effect bridging the gap between online media and commerce.
Speaking on their investment Carles Ferrer, London-based General Partner of Nauta Capital said, “We are delighted to add Channelsight to our portfolio of leading B2B Software players making massive inroads into another huge market. Already the team has done an impressive job in no time and their customer successes and the market opportunity ahead clearly positions the company as thought leaders in the space. We are looking forward to working with John and the team to build a global winner.”