COLORADO SPRINGS, Colo., Sept. 18, 2018 /PRNewswire/ — Quantum Metric, a leading provider of real-time intelligent digital experience analytics, today 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."
Along with the funding, Jaffe will be joining the Quantum Metric board of directors.
About Quantum Metric
Quantum Metric's Digital Intelligence Analytics Platform gives cross-functional teams real-time, out-of-the-box insights to easily and proactively identify, prioritize and act, so you can maximize the business impact of your web and native apps. The platform's intelligent analysis enables modern enterprises to quickly deliver exceptional online experiences. Since 2016, Quantum Metric has grown its customer base to include a range of mid-market to Fortune 500 enterprises.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.