PrettyDamnQuick (PDQ), an operational data platform for profitable commerce, announced that it closed a $25 million Series A funding round led by Peakspan Capital, with participation from existing investors TLV Partners and Moneta. And PDQ will utilize the funds to expand its market presence and accelerate the development of its cutting-edge checkout and shipping personalization engine, which helps mid-sized Direct-to-Consumer (D2C) e-commerce brands to boost revenue and compete more effectively with massive global entities like Amazon. So far, PDQ has raised $38 million.
The online shopping experience generates vast customer journey data, browsing behaviors, and purchase history. And most e-commerce brands utilize this telemetry for marketing, targeting, and product positioning, primarily focusing on top-of-funnel engagement through product recommendations, email, and advertising. However, over 70% of online shopping carts are still abandoned at checkout. Optimizing checkout experiences is a complex challenge, requiring converging supply chain, payments, and commerce technologies into a seamless shopper experience. Recognizing a prime opportunity for enhancing the online shopper experience and boosting profitability, major e-commerce brands such as Amazon, Etsy, Walmart, and Target have invested significant time and energy in checkout optimization. This created higher expectation levels about shipping and fulfillment, making it even harder for smaller D2C e-commerce brands to stay competitive.
PDQ has become a leader in checkout optimization by bringing advanced capabilities once exclusively available to massive global e-commerce providers to the broader market of mid-sized e-commerce brands. The PDQ platform ingests and analyzes millions of data points, seamlessly connecting order management, fulfillment, and delivery to the checkout experience and providing a range of personalized checkout offerings for each customer. PDQ implements targeted conversion and revenue-driven strategies in real-time across a wide range of e-commerce platforms (e.g. Shopify, Salesforce Commerce Cloud, Adobe Commerce, BigCommerce, CommerceTools, etc). With experimental A/B testing capabilities that enable merchants to segment customers according to behavioral data, PDQ enables each buyer to get the right checkout offering at the right time to drive conversion and incremental revenue growth. This, in turn, transforms the checkout experience into a powerful driver of customer satisfaction and loyalty.
KEY QUOTES:
“We founded PDQ in 2021 with the aim of harnessing data from every touchpoint in the customer journey to optimize the customer experience at checkout. Since then, we have empowered hundreds of e-commerce businesses to increase their conversions and improve their profitability, while simultaneously enhancing the value of their brands. We’ve driven more than $4B in annualized gross merchandise volume to date, and we’re just getting started – this funding will help us to significantly expand our global footprint and accelerate our innovation.”
– Avi Moskowitz, Co-founder and CEO, PDQ
“Up until now, the cost and complexity of optimizing shopper checkout experiences has been prohibitively high for the majority of online merchants. Brands that use PDQ to optimize and personalize the consumer checkout experience have increased their average order values, checkout conversions, and customer repurchases, and have also achieved more profitable shipment routes and increased customer satisfaction.”
– Jack Freeman, Partner, PeakSpan Capital
