Manchester-based Made With Intent, a company focused on improving e-commerce, has secured £1.5M (approximately €1.75M) in funding to launch its segmentation platform to make online shopping more personalised and fitting for customers.
The round was led by Mercuri, with support from Portfolio Ventures and existing investor Haatch.
The funding will support Made With Intent’s fully remote team of 15 with their product, marketing and partnership efforts.
A platform helping retailers predict and shift customer intent
Made With Intent is a platform designed to assist retailers who rely on data to understand and target customer intentions.
The platform gathers data through a simple script, analysing over 250 signals from online shoppers and providing real-time predictive intent metrics. Visitors are segmented based on their journey and likelihood to buy, exit, or return.
This data and segment targeting is handled in platform to complement existing tools. With integrations to over 40 marketing tools, including ad networks, experience tools, and CRMs, e-commerce teams can enhance shopping experiences and reengage customers, thereby enhancing revenue outcomes.
Having already established a user base in the UK, Denmark, Germany, and the US, the company’s goal is to expand its reach and acquire 100 global customers within the next two years.
David Mannheim, founder of Made With Intent, says, “Made With Intent is about more than a platform. It’s about a movement to create a more personal, human e-commerce. This investment brings us closer to fulfilling our mission.”
How was Made With Intent born?
The concept behind Made With Intent stemmed from founder David Mannheim’s realisation of a critical flaw in online retail strategies. With over 15 years of experience in optimising conversion rates for e-commerce, he recognised that the industry’s focus on conversion metrics was actually hindering its progress.
Mannheim explains, “The current measures of success are the problem. Metrics like conversion rate, and therefore the actions retailers take to improve them, are short-term, retrospective and aggregated. This creates a race to the bottom. A numbers game that forgets how people really buy.”
Made With Intent looks to change this by offering retailers a human-centric view of website performance and a predictive targeting tool for real-time response to customer needs. It claims that its intent-based approach generates a 9.4 per cent average revenue increase compared to generic optimisation.
“e-commerce is often guilty of trying to convert all customers at all times. It focuses on the minority who are ready to buy, at the expense of those who are not. Our product helps retailers be appropriate for every customer. To progress both in-market and future buyers,” adds Mannheim.
Since its beta launch in September, Made With Intent has already assisted customers such as Ernest Jones, Bensons for Beds, and Rapha in aligning their sales strategies with real buying behaviours.
Brief about Mercuri
Mercuri is a venture capital fund specialising in early-stage investments, particularly leading pre-seed and seed funding rounds for technology companies based in the UK.
The firm focuses on supporting entrepreneurs who are pioneering the development of tech-driven products made for the modern era of business and consumer digital lifestyles.
Speaking on the investment in Made With Intent, Alan Hudson, Founding General Partner at Mercuri, says, “Made With Intent has embraced first-principle thinking and a decade of insights to shake up the vast e-commerce market. It empowers online commerce, making it more personal and focused on the quality of prospective customers. The product roadmap excites us and, importantly, those using it.”
Read the orginal article: https://siliconcanals.com/news/startups/e-commerce/made-with-intent-secures-1-7m/
