Made With Intent has secured £1.5m in funding to bring its new platform to market.
The company was set up by User Conversion founder, David Mannheim, who saw “a fundamental flaw in online retail strategies.”
He explained that after 15 years of optimising conversion rates in eCommerce, that it was the industry’s fixation on conversion metrics which was the very thing holding it back.
“The current measures of success are the problem. Metrics like conversion rate, and therefore the actions retailers take to improve them, are short-term, retrospective and aggregated,” he stated.
“This creates a race to the bottom. A numbers game that forgets how people really buy.”
As a result, the company is seeking to offer retailers 2 things – a more human, segmented perspective of their website performance and a predictive targeting mechanism that lets other marketing tech respond to customer needs in real time.
“eCommerce is often guilty of trying to convert all customers at all times,” continued Mannheim.
“It focuses on the minority who are ready to buy, at the expense of those who are not. Our product helps retailers be appropriate for every customer. To progress both in-market and future buyers.”
The £1.5m funding round has been led by Mercuri, with Portfolio Ventures and previous investors Haatch.
The cash will be used to support the remote team of 15 with the product, marketing and partnership efforts.
The Beta launched in September has signed up Ernest Jones, Bensons for Beds and Rapha.
The platform works by collecting data through a script, modelling 250+ signals from online shoppers and returning predictive intent metrics in real time. Visitors are then automatically segmented based on their journey, momentum and how likely they are to buy, exit or return in the future.
“Made With Intent has embraced first-principle thinking and a decade of insights to shake up the vast eCommerce market,” explained Alan Hudson, Founding General Partner at Mercuri.
“It empowers online commerce, making it more personal and focused on the quality of prospective customers. The product roadmap excites us and, importantly, those using it.”
The company aims to reach 100 global customers within two years.
