QuBit Raises $7.5 Million In Series A

Posted Dec 4, 2012

QuBit is a startup company that offers analytics to e-commerce websites with customer personalization.  The company has raised $7.5 million in Series A funding led by Balderton Capital.  Existing angel investors also participated in this round.  Balderton general partner Bernard Liatuad will be joining QuBit’s board of directors.  He founded and sold Business Objects to SAP for $6.8 billion.

QuBit is based in London and it was founded by four former Google executives in 2010.  The company is known for developing the cloud-based product known as OpenTag.  OpenTag manages tags from multiple analytics, marketing, and ad services.  OpenTag’s funding will be used to to build a larger SaaS analytics platform and to push further into the U.S. and Europe.

QuBit’s CEO in America Graham Cooke said that the company chose London as their base because they saw the city as a location for one of the most acute markets when it comes to e-commerce.  People in London spend more time and money online there than other countries.

?We decided that if we could crack the problem here in the UK, we could crack it anywhere,? stated Cooke.