Insight Venture Partners Leads Investment to Fuel Expansion and Product Innovation to Help Businesses Deliver Exceptional Online Experiences
Quantum Metric, a leading provider of real-time intelligent digital experience analytics, announced a $25 million Series A round of funding led by Insight Venture Partners, a leading venture capital and private equity firm focused on high-growth technology and software companies. The investment will help Quantum Metric accelerate its growth trajectory as the company projects 400 percent year-over-year revenue increase for 2018.
Quantum Metric has become a modern enterprise favorite by providing the first real-time cross-device digital intelligence analytics platform that simplifies how organizations identify their highest value revenue opportunities. The company will use the investment, in part, to broaden the company’s capabilities to address growing demand from leading enterprises, increase headcount to support product development, sales, and marketing, and continue advancing technological innovation within the platform.
“Every executive of a digital enterprise is racing to outrank their competitors in one key area: experience. Quantum Metric enables businesses to rapidly act on insights and deliver exceptional digital products,” says Mario Ciabarra, founder and CEO of Quantum Metric. “This substantial Series A funding helps reaffirm our position as a leader in the next generation of digital experience technologies and will allow us to further expand our platform’s capabilities.”
Quantum Metric has quadrupled its customer base in the last 18 months with a range of mid-market to large clients, including eHarmony, Cole Haan, Neiman Marcus, Western Union, and 1-800 Contacts. “After deploying Quantum Metric, we saw immediate benefits: the platform automatically highlighted digital issues that were affecting our customers and causing frustration,” says Navdeep Kumar, VP Technical Operations at eHarmony. “Now we are constantly finding new ways to leverage the rich data to improve our customer experience across our web and native mobile experiences. I wasn’t looking for Quantum Metric when they reached out, but Quantum Metric has proven to be very effective in helping us resolve these digital issues.”
“At Insight, we are looking to invest in entrepreneurs like Mario who have built best-in-class teams, and to support rapidly growing businesses like Quantum Metric that have created products that customers love,” said Lonne Jaffe, Managing Director at Insight Venture Partners. “Quantum Metric’s industrial scale, easy-to-use software provides users incredible value right out of the box — for example, it automatically suggests web and mobile product improvements by analyzing petabytes of real-time data in seconds and prioritizes those suggestions by potential business impact. Quantum Metric’s business is particularly exciting to us because its product line will continue to improve as it’s exposed to more use cases.”