Ecommerce analytics service Taggstar has raised $780k from Ariadne Capital and a group of angel investors.
The London-based startup provides real-time analytics for ecommerce businesses. It shows shoppers which products are most popular at that specific moment and how quickly it is selling,
For the retailers, it also reports on real-time purchasing trends so that they can adjust their offering accordingly.
Taggstar will be five years old in January and currently counts Littlewoods, Very and Thomas Cook as clients.
Festive boost
The festive period has led to a big boost for Taggstar, who with one retailer on Black Friday was sending 300 messages to shoppers every second.
“The proposition is very straightforward but extremely effective. We are all consumers and understand the power of social proof and how popularity and scarcity can affect our buying decisions,” explained Taggstar managing director.
“Our clients can see very quickly using A/B testing methodology that they have increased conversions and revenue once they have deployed Taggstar.”
Taggstar’s competition
The ecommerce analytics space is obviously one that Taggstar is not alone in. Google offers its own analytics software, as does Elevator Pitch alumnus GoSquared.
Competitors also include London startup Ometria who have to-date raised $2m. Qubit, who recently raised $26m, is another.
The investment will be used to continue the business’ expansion.