Electrical retailer AO enlists Ocula Technologies to optimise e-commerce performance
UK-based online retailer AO is tapping Ocula Technologies’ Ocula Boost solution.
The AI platform addresses abandoned shopping carts by analysing sites to: identify actions to improve the customer experience, accessibility and performance; rank insights based on predicted value and effort; and ensure teams focus on the right areas.
“Ocula Boost is helping us interpret the data and insights to show that our investments in content and performance are improving the website and ultimately making shopping for electricals even easier for our customers,” says Clare Evans, Head of E-commerce at AO.
“Being selected by AO is testament to our commitment to build the world’s leading e-commerce insight platform. The partnership is a great fit and we are excited about what we can achieve together,” Thomas McKenna, CEO at Ocula.
New investment
Ocula Technologies recently received new investment from Lloyds Banking Group and its FinTech Investment Team.
The SaaS startup says that it wants to give retailers without in-house data science teams, the ability to access the benefits of AI and not get left behind by the likes of Amazon and Alibaba.
Lloyds Banking Group’s investment is in the form of new equity capital and completes a funding round previously announced in November 2022.
Less than two years since its formation it values Ocula on a post new money basis at £10 million.
“This funding will enable us to fuel our ambitious future development and client plans for our two insight modules, Ocula Boost and Price Optimisation. We look forward to further building on our recent success with cornerstone clients such as the Kansas City Chiefs and AO,” said McKenna.
“We are delighted to invest in Ocula to support its ongoing development of a decision intelligence platform,” said Kirsty Rutter, FinTech Investment Director, Lloyds Banking Group.
“Ocula’s proposition integrates well with our existing technology capabilities, and helps the Group continue to meet customer demands for a more personalised service from their banks.”
RTIH INNOVATION AWARDS
Ocula Technologies was highly commended in the Startup of the Year (UK) category at the 2022 RTIH Innovation Awards.
Our 2022 winners were revealed at a sold out event in central London on Tuesday, 6th December.
RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognise standout examples through our awards.”
“Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”
“Congratulations to our 2022 retail technology hall of fame entrants.”
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