Distil.ai, an Exeter, UK-based customer data platform that helps e-commerce businesses understand customers' behavior and boost sales, raised £1.1 million in a funding round led by Mercia Ventures and supported by angel investors.
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 optimize engagement for every customer. The platform captures buying signals and behavior across a range of digital platforms, then distils the data into a single customer view and categorizes 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, and can also make informed recommendations on discounting strategies and promotions.
Gerry McNicol founder and CEO of Distil, 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 'Distilling' it. We've filled Distil with powerful algorithms to provide a clear view of your business's performance. With the support of our partners in this funding round, we're set to accelerate the shift towards a more insightful and efficient future."
Company: Big Business Intelligence Limited
Raised: £1.1M
Round: Unknown
Funding Month: July 2023
Lead Investors: Mercia Ventures
Additional Investors:
Company Website: https://distil.ai/
Software Category: Customer Data Platform
About the Company: Founded in 2018 by Gerry McNicol, Distil.ai is a customer data platform for e-commerce businesses. The platform enables companies of all sizes without their own in-house data teams to access powerful business intelligence for e-commerce and use their data to grow their businesses. 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.
Source: Pauline Rawsterne, PR Agent-Turquoise PR