Distil.ai, an Exeter, UK-based provider of a customer data platform, raised £1.1M in funding.
The round was led by Mercia Ventures and supported by angel investors.
The company intends to use the funds to further enhance its platform and expand its sales and marketing team to help scale the business.
Founded in 2018 by Gerry McNicol, CEO, Distil.ai provides a platform that enables companies of all sizes without their own in-house data teams to access business intelligence for ecommerce. It helps them use their data to grow their business through access to Customer Segmentation, Marketing Attribution, Inventory Performance Analytics and real-time Business Forecasts. The solution uses AI and machine learning data tools to help optimise engagement of customer. The platform captures buying signals and behaviour across a range of digital platforms then distils the data into a single customer view and categorises customers into segments, enabling companies to channel marketing towards those that drive results. It can provide guidance on how sellers can improve their marketing, what products are selling well and whether they need to broaden or reduce their range, what sales strategies are working and whether targets will be met. It can also make informed recommendations on discounting strategies and promotions.
Distil has served customers including AQL, Crowdfunder, CMO Stores, Eden Project, Flavourly, Mancave and Crowdcube.
FinSMEs
06/07/2023