PureClarity, the York-based software company, has secured a 500,000 investment from NPIF C Mercia Equity Finance, that will help this business develop its product that will create new jobs.
The funding enables the business to further develop its product and make eight new jobs for advertising and marketing staff at its premises in York.
PureClarity’s technology uses big data and artificial intelligence to analyse customers’ behaviour and recommend essentially the most relevant products when they search for goods in internet vendors.
The NPIF fund is managed by Mercia Fund Managers which is a part of the Northern Powerhouse Investment Fund.
PureClarity was installed in 2014 by way of a five-strong team of computer and internet marketing specialists led by CEO Dr Paul Gibson, who identified the necessity of the item while operating in e-commerce agencies.
The software was already released in 2017 and it is now applied by organisations including the Royal British Legion, Norwich City Soccer team and bike accessories supplier Zyro Fisher.
Clients have noticed a 26.6% boost in online revenues, 71.5% surge in conversions and 15.6% increasing amount of average order value after the adoption of PureClarity’s platform.
Emma Cross, Investment Executive with Mercia Fund Managers, said: “The amount spent on the internet is growing yearly nevertheless the challenge for retailers is finding solutions to acquire, convert and retain more customers when confronted with increasing competition. PureClarity’s software provides greater clues about customers’ preferences and offers a personalised service.
“The funding will aid the company since it moves the next step of the development.”
Ken Cooper, Md at Sheffield’s British Business Bank, said: “Following a great first 12 months, it’s essential to find out that our Northern Powerhouse Investment Fund is well developed and finding good demand from growing tech companies.”
David Dickson, Deputy Chair Of your York, North Yorkshire and East Riding Local Enterprise Partnership and NPIF RAB Member, said: “PureClarity is clearly a rapid growing, dynamic digital company that York is developing a strong good name for supporting.
“Yorkshire additionally, the Humber offers an international good name for software and digital development as well as the 500,000 investment by NPIF is the one other marker for your persistence for a sector that continually create strong economic growth.”