ChannelSight has secured a €3.3 million investment in the company led by Nauta Capital, with ACT Venture Capital participating in the round and support from Enterprise Ireland. The company said it now expects to create 40 new jobs as it plans its international expansion, bringing the overall headcount to 74.
Founded in 2013 by CEO John Beckett (pictured), CTO Kieran Dundon, and Niall O’Gorman, the e-commerce enablement and analytics company connects consumers with brands by adding a ‘buy now’ button to websites with branded content. It operates in 37 countries and its customers include Cadbury, Oreo, Philips and Veet.
“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,” said Beckett. “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 and growing at 15% annually.“
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. ChannelSight facilitates a frictionless path to purchase across all owned, earned and paid media and this end-to-end visibility from shoppable content is the next frontier for brands.
“By simplifying the customer-buying journey across all channels including online video, brand websites and uniquely at scale on multiple social media sites like Twitter and Facebook, we ensure that when a consumer is motivated to make a purchase, they can do so easily without competitive distraction. The data is what is really valuable though – 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.”
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