Distil secures £1.1m led by Mercia Ventures to enhance its customer data platform and expand sales operations.
The Exeter-based ecommerce intelligence platform has raised £1.1m in a round led by Mercia Ventures alongside angel backing.
Distil operates a customer data platform that helps ecommerce businesses understand customer behaviour and boost sales through machine learning tools. The Exeter-based firm provides business intelligence solutions for companies without in-house data teams.
Exeter-based customer data platform Distil has secured £1.1m in a funding round led by Mercia Ventures with backing from angel investors. The capital will be deployed to enhance the firm's platform and expand its sales and marketing team to support business growth.
Distil provides ecommerce businesses with machine learning-driven analytics to interpret buying signals, segment customers and forecast performance. The company plans to use the latest injection of funds to reach a wider audience following its previous backing from Mercia in 2021.
From the founder
"At Distil, we are passionate about the power of data. It is the lifeblood of any business, shaping the landscape of industries around us. However, to truly harness its potential and transform it into a strategic asset, the way we approach and manage data must evolve. This is the driving force behind Distil.ai. Our mission is simple – if you want your data to guide your strategy, empower your marketing, and boost your profits, it’s time to start ‘Distiling’ it. We’ve filled Distil with powerful algorithms to provide a clear view of your business’s performance. With the support of our partners in this funding round, we’re set to accelerate the shift towards a more insightful and efficient future."
Gerry McNicol
Founder and CEO at Distil
Investor perspective
"Companies which are selling online often lack the data insights they need to target customers more effectively and focus their sales and marketing strategy. Distil.ai is a powerful tool that enables companies of all sizes to unlock these insights and can drive operating profit at a rapid pace. This funding will give the company additional resources to further enhance its product, ramp up sales and reach a wider audience."
Rafael Joseph
Assistant Investment Executive, Development Bank of Wales
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
