London based data platform provider to invest in AI via seven-figure funding

CIBC Innovation Banking announced today that it has provided an £8m growth capital package to Ometria, a customer data and experience platform (CDXP), headquartered in London and New York.

Ometria will use the capital to further develop and advance the retail-specific AI capabilities of its platform. Founded in 2013, Ometria is the first and only CDXP designed specifically for retail, with over 200 industry-leading, global clients.

The platform helps retail brands drive customer-centred business growth by creating next-generation, data-driven experiences at scale.

Ometria’s platform allows clients to boost revenue growth by improving the experience retailers can deliver for customers, with a recent Total Economic Impact study commissioned by Ometria and delivered by Forrester Consulting, finding that the technology delivers a 430 per cent ROI for customers.

Ivan Mazour, CEO and founder of Ometria, commented: “This is a great vote of confidence, and we are very excited to work with CIBC Innovation Banking and use this funding to further accelerate the development of our retail-specific AI Co-Marketer.

“The capital will also fuel our ongoing North American expansion, which is a huge market that has shown a clear need for our product.”

Thomas Dods, director at CIBC Innovation Banking’s European Office, added: “We are excited to be supporting Ometria at such an important stage of growth. The company has a tremendous opportunity ahead, thanks to the platform’s leading-edge AI capabilities.

“The CIBC Innovation Banking team is looking forward to supporting Ometria in its continued growth journey.”

By Matthew Neville – Senior Correspondent, Bdaily

• Add me on LinkedIn and Twitter to keep up to date
• And follow Bdaily on Facebook, Twitter and LinkedIn
• Submit press releases to editor@bdaily.co.uk for consideration.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →