Irish-founded tech firm ChannelSight has received a €3.3 million investment to scale operations in Europe and the US.
The funding round was led by Nauta Capital, with ACT Venture Capital participating and support from Enterprise Ireland.
ChannelSight chief executive John Beckett said the funding will allow the Dublin-based ecommerce company to scale at a faster pace in terms of sales and marketing efforts, and to invest in further building the firm’s partner network in Europe and the United States.
"We have developed highly sophisticated technology that is already being used by some of the most respected global brands such as Philips, Mondelez International, RB, and Bosch. "
“This investment will help us to scale at a faster pace and enable us to ultimately help brands and partners to capture a bigger slice of an online shopping market that is estimated to be €477 billion in Europe this year alone.”
ChannelSight CTO Kieran Dundon said the rise of shoppable content is changing the face of advertising making it easier than ever for consumers to make a purchase online while giving brands greater visibility into media effectiveness.
“By helping brands to optimise their advertising and other content we can not only increase direct and indirect conversions, but close the loop to improve the return on investment from their entire marketing spend across all digital channels,” he said.
ChannelSight operates in 37 countries globally and is working with brands such as Cadbury, Oreo, Philips and Veet. The company has posted 7-figure annual revenues since its foundation two years ago.
