Ecommerce startup User Replay has raised $3.25m as it moves from hardware to software-as-a-service (SaaS) for the first time.
The Reading-based startup produces a ‘black box’ for ecommerce companies that tracks customer journeys and identifies what might be holding back sales.
The investment has been led by Episode 1 Ventures and brings its total funding to $5.9m.
Hardware to SaaS
User Replay’s traditional product uses hardware to help businesses track their customers.
Now, the company has announced its first SaaS product that requires no physical installation.
John Thompson, CEO of User Replay, believes their new offering removes one of the biggest adoption barriers for the company.
Historically, one of the biggest barriers to the adoption of customer experience management has been that the only choice was to install the software on-premise, behind the firewall, requiring assistance from the IT function.
Now CEM is available on demand customers can try it without investing in hardware.
Clients can also use the service to deal with customer disputes.
European and US expansion
Besides the SaaS rollout, the company plan to use the funds to expand in Europe and open its first office in the USA.
Julian Carter, Founding Partner and MD of EC1 Capital, praised the company’s advancements into SaaS.
Since we invested in User Replay over 14 months ago there was the promise of developing a SaaS version of the on-premise solution.
Though a difficult challenge, it is now here and being successfully used in the field which means this is an entire game changer for User Replay and its scalability for international growth