Middlesborough-based Salesfire has raised £2.75M from NPIF II – Mercia Equity Finance which is managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II).
With the funding, the company will integrate pre-developed new analysis technology into its platform.
Salesfire’s software creates a profile of every individual visiting a company’s website, and uses behavioural cues to understand their interests and shopping behaviour. It enables retailers to offer a more personalised customer experience.
The company is developing new AI technology that will give deeper insights into customer behaviour, such as recognising anonymous individuals with different user accounts, and will be particularly valuable once existing tracking tools such as cookies are phased out.
*Rich Himsworth, founder and CEO, said: “Salesfire’s mission is to help retailers grow their e-commerce sites and drive revenue. Our new Salesfire AI technology will be revolutionary in giving them scope to identify more anonymous site traffic and opening up a whole new world of marketing and data opportunities. We are pleased to have the continued support of our investors in this latest round and really excited to be at the forefront of AI in e-commerce.”
Chris McCourt of Mercia Ventures added: “Salesfire stands out from competitors by offering the type of sophisticated features normally only available in more costly products.
"Its new AI technology will make the platform even more powerful and initial trials have shown it can further increase sales. This Investment will enable the business to accelerate its development and further differentiate itself in the market.”
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