13 blogs
  • 2017 is proving to be a landmark year for Cloud IQ. In March 2017, we announced Series A funding of £4 million from Nauta Capital, Finance Wales and Juno Capital, establishing ourselves as one of the best-funded commerce optimisation platforms, and accelerating our roadmap development. Today, we are pleased to have secured an additional £4 million from lead investor PayPal,and returning investors Nauta Capital, Finance Wales and Juno Capital. The investment cements our exclusive conversion rate optimisation partnership with PayPal, enabling ecommerce businesses using PayPal to track 100% of transactions with Cloud IQ, optimising the consumer journey and resulting in more customers. “Through our recent partnership with Cloud IQ it is clear we share a common vision to improve the consumer journey. Today, Artificial Intelligence powered technology is finally able to deliver individualised consumer experiences at scale. PayPal is excited to support Cloud IQ as they bring to market solutions that improve the overall shopping experience on both web and mobile.” Jeremy Jonker, VP, Head of Global Corporate Development at PayPal. “Cloud IQ’s proposition and market traction is impressive. We are excited by future products that Cloud IQ will bring to market through the opportunities created by this round of funding.” Carles Ferrer, London-based General Partner at Nauta Capital. “Cloud IQ is an exciting and innovative platform. The team at Cloud IQ are ambitious and are on a high growth trajectory and we’re pleased to continue to be able to support them in this latest funding round.” Finance Wales, Investment Executive Carmine Circelli. Investing in our team The funding has enabled us to establish a new engineering teams, senior hires and new offices. We have opened a new hub in Cardiff, Wales, to coordinate sales and bolster customer support, demonstrating our commitment to our customers. Strengthening our senior management team is a priority, which has led us to appoint Tim Perks as Chief Financial Officer and Nick Peart as Chief Marketing Officer. Perks is a proven CFO in the enterprise technology space, having worked with New Voice Media, Redstone and Baltimore. Peart brings a wealth of marketing experience having worked with leading global brands such as Zendesk, Adobe and Clearswift; he will lead global marketing strategy to drive brand and market awareness of Cloud IQ. To grow the team and have closed this round of funding so soon after the last one - and with the participation of PayPal - is testament to the momentum we are building at Cloud IQ. Together we are pioneering new technology which makes the internet work better for consumers, starting with eCommerce.
    55 Posted by administrator
  • 2017 is proving to be a landmark year for Cloud IQ. In March 2017, we announced Series A funding of £4 million from Nauta Capital, Finance Wales and Juno Capital, establishing ourselves as one of the best-funded commerce optimisation platforms, and accelerating our roadmap development. Today, we are pleased to have secured an additional £4 million from lead investor PayPal,and returning investors Nauta Capital, Finance Wales and Juno Capital. The investment cements our exclusive conversion rate optimisation partnership with PayPal, enabling ecommerce businesses using PayPal to track 100% of transactions with Cloud IQ, optimising the consumer journey and resulting in more customers. “Through our recent partnership with Cloud IQ it is clear we share a common vision to improve the consumer journey. Today, Artificial Intelligence powered technology is finally able to deliver individualised consumer experiences at scale. PayPal is excited to support Cloud IQ as they bring to market solutions that improve the overall shopping experience on both web and mobile.” Jeremy Jonker, VP, Head of Global Corporate Development at PayPal. “Cloud IQ’s proposition and market traction is impressive. We are excited by future products that Cloud IQ will bring to market through the opportunities created by this round of funding.” Carles Ferrer, London-based General Partner at Nauta Capital. “Cloud IQ is an exciting and innovative platform. The team at Cloud IQ are ambitious and are on a high growth trajectory and we’re pleased to continue to be able to support them in this latest funding round.” Finance Wales, Investment Executive Carmine Circelli. Investing in our team The funding has enabled us to establish a new engineering teams, senior hires and new offices. We have opened a new hub in Cardiff, Wales, to coordinate sales and bolster customer support, demonstrating our commitment to our customers. Strengthening our senior management team is a priority, which has led us to appoint Tim Perks as Chief Financial Officer and Nick Peart as Chief Marketing Officer. Perks is a proven CFO in the enterprise technology space, having worked with New Voice Media, Redstone and Baltimore. Peart brings a wealth of marketing experience having worked with leading global brands such as Zendesk, Adobe and Clearswift; he will lead global marketing strategy to drive brand and market awareness of Cloud IQ. To grow the team and have closed this round of funding so soon after the last one - and with the participation of PayPal - is testament to the momentum we are building at Cloud IQ. Together we are pioneering new technology which makes the internet work better for consumers, starting with eCommerce.
    Jul 31, 2017 55
  • In this column I have previously outlined what I believe are the key principles for a contemporary and effective Industrial Strategy. The UK ranks third in the world for start-up businesses but not so well in the follow-up phase. The Business Growth Fund has demonstrated that there is significant demand for funding small and medium-sized businesses that have gone past the start-up stage. We have a long way to go, however, in performing as well as the US in this crucial area of the economy. I have been a long-standing and committed supporter of start-ups through my role as a “business angel”. Angel investors are typically established entrepreneurs and business leaders. In addition to deploying our own cash in seeding highly innovative, often disruptive and inevitably risky, new businesses, we are passionate about mentoring the next generation of entrepreneurs.
    105 Posted by administrator
  • In this column I have previously outlined what I believe are the key principles for a contemporary and effective Industrial Strategy. The UK ranks third in the world for start-up businesses but not so well in the follow-up phase. The Business Growth Fund has demonstrated that there is significant demand for funding small and medium-sized businesses that have gone past the start-up stage. We have a long way to go, however, in performing as well as the US in this crucial area of the economy. I have been a long-standing and committed supporter of start-ups through my role as a “business angel”. Angel investors are typically established entrepreneurs and business leaders. In addition to deploying our own cash in seeding highly innovative, often disruptive and inevitably risky, new businesses, we are passionate about mentoring the next generation of entrepreneurs.
    Jun 26, 2017 105
  • Recent coverage on the BBC has focused on UK technology companies, and has posed the question of whether the UK can compete in the global technology industry. One only has to think of Google and Facebook to realise how far behind the US we are in the UK. Where are the UK’s world leading technology giants, and what more must we do to support them?A number of tech entrepreneurs as well as investment specialist have offered their views on what they believe the problem is. Not surprisingly, the common theme amongst them is the struggle that businesses face for funding. However, and perhaps surprisingly, the problem doesn’t lie with seed and start-up capital. In the UK we are actually very good at nurturing small businesses, and the government and organisations such as the NHS have worked hard to support innovation and university spin outs, particularly in the sectors that the UK is strongest in, including life science, healthcare and technology. Instead, the problem is later in the life cycle of these businesses, when they move on to commercialising the product or service that they have built. They need to scale up to meet the demand that they have created, as well as having the fire-power to break into new markets. Neil Woodford, who set up his Patient Capital fund to invest in UK venture was quoted by the BBC this week responding to a question about scale up capital:"We have been appallingly bad at giving those minnows the long-term capital they need" Why then do they struggle to attract investment? The answer is quite simply because the UK’s fund management industry has no place for venture in its portfolios. A thriving, high growth technology company is considered far too risky. As long as this attitude holds sway, the evolution of the UK tech sector will be impeded. We have observed this over the last 10 years, as we have watched a gap open up between the early seed and start up rounds and the later Series A or first institutional investment round. Where not so long ago a Series A might have closed within 3-4 years of seed funding, it is now more likely to be 5-7 years afterwards, if that soon. It is precisely at this stage, what we have termed the “bridge to Series A stage”, that Juno focuses its investment activity. The businesses we are working with are not struggling, far from it. These companies are selected by us for (a) generating more than £1m of annual recurring revenue and (b) growing at unprecedented rates, often with revenue growth in excess of 100%, year on year. Working with Swansea University’s School of Management, Juno has been involved in research to understand why the gatekeepers to the UK’s personal wealth are not supporting venture as effectively as they might. It is a serious problem and our research has left us in little doubt that until the investment industry, specifically IFAs and fund managers, consider an allocation to later stage commercialisation, or scale up stage venture in their portfolios, the UK venture industry will continue to struggle for funding to support growth to any significant scale. The UK government’s EIS regime has, to a meaningful degree, facilitated the evolution of a world-leading entrepreneurial sector at the start up stage by off-setting an element of the perceived risk against tax relief. Similar policy making focused on the scale up stage is now required to support the development of that sector to maturity. If the fiscal and regulatory incentives are in place for investors, there seems little doubt that British innovation will be well-placed to compete on the global stage and perhaps then we will see our own Google, Facebook or Uber. Dr Julian HickmanPartnerJuno Capital LLP@junocapitalwww.junocapital.co.uk
    1211 Posted by administrator
  • Recent coverage on the BBC has focused on UK technology companies, and has posed the question of whether the UK can compete in the global technology industry. One only has to think of Google and Facebook to realise how far behind the US we are in the UK. Where are the UK’s world leading technology giants, and what more must we do to support them?A number of tech entrepreneurs as well as investment specialist have offered their views on what they believe the problem is. Not surprisingly, the common theme amongst them is the struggle that businesses face for funding. However, and perhaps surprisingly, the problem doesn’t lie with seed and start-up capital. In the UK we are actually very good at nurturing small businesses, and the government and organisations such as the NHS have worked hard to support innovation and university spin outs, particularly in the sectors that the UK is strongest in, including life science, healthcare and technology. Instead, the problem is later in the life cycle of these businesses, when they move on to commercialising the product or service that they have built. They need to scale up to meet the demand that they have created, as well as having the fire-power to break into new markets. Neil Woodford, who set up his Patient Capital fund to invest in UK venture was quoted by the BBC this week responding to a question about scale up capital:"We have been appallingly bad at giving those minnows the long-term capital they need" Why then do they struggle to attract investment? The answer is quite simply because the UK’s fund management industry has no place for venture in its portfolios. A thriving, high growth technology company is considered far too risky. As long as this attitude holds sway, the evolution of the UK tech sector will be impeded. We have observed this over the last 10 years, as we have watched a gap open up between the early seed and start up rounds and the later Series A or first institutional investment round. Where not so long ago a Series A might have closed within 3-4 years of seed funding, it is now more likely to be 5-7 years afterwards, if that soon. It is precisely at this stage, what we have termed the “bridge to Series A stage”, that Juno focuses its investment activity. The businesses we are working with are not struggling, far from it. These companies are selected by us for (a) generating more than £1m of annual recurring revenue and (b) growing at unprecedented rates, often with revenue growth in excess of 100%, year on year. Working with Swansea University’s School of Management, Juno has been involved in research to understand why the gatekeepers to the UK’s personal wealth are not supporting venture as effectively as they might. It is a serious problem and our research has left us in little doubt that until the investment industry, specifically IFAs and fund managers, consider an allocation to later stage commercialisation, or scale up stage venture in their portfolios, the UK venture industry will continue to struggle for funding to support growth to any significant scale. The UK government’s EIS regime has, to a meaningful degree, facilitated the evolution of a world-leading entrepreneurial sector at the start up stage by off-setting an element of the perceived risk against tax relief. Similar policy making focused on the scale up stage is now required to support the development of that sector to maturity. If the fiscal and regulatory incentives are in place for investors, there seems little doubt that British innovation will be well-placed to compete on the global stage and perhaps then we will see our own Google, Facebook or Uber. Dr Julian HickmanPartnerJuno Capital LLP@junocapitalwww.junocapital.co.uk
    Sep 20, 2016 1211
  • Your existing marketing playbook just isn’t performing anymore. People are ignoring your ads, few users are clicking through, conversions are dropping. It’s getting harder and harder to acquire new customers every day.   Buyapowa’s Head of Product, James Grant, has the answer: alt acquisition. If you came to our event in April 2016, you’ll have seen his fantastic keynote address, explaining the science behind those diminishing returns and exploring alternative ways to supplement your acquisition - complete with compelling examples from Betty Crocker, via Ryanair right up to Tesla.   If you missed it, don’t worry. You can see the video that got everyone talking above.   Enjoy the video!
    835 Posted by administrator
  • Your existing marketing playbook just isn’t performing anymore. People are ignoring your ads, few users are clicking through, conversions are dropping. It’s getting harder and harder to acquire new customers every day.   Buyapowa’s Head of Product, James Grant, has the answer: alt acquisition. If you came to our event in April 2016, you’ll have seen his fantastic keynote address, explaining the science behind those diminishing returns and exploring alternative ways to supplement your acquisition - complete with compelling examples from Betty Crocker, via Ryanair right up to Tesla.   If you missed it, don’t worry. You can see the video that got everyone talking above.   Enjoy the video!
    May 10, 2016 835