Cloud-based, in-app shopping technology platform Poq has completed its Series A funding round, which will be used to spearhead a push beyond the European market. The company raised $4m in the round, which was led by venture investment firm Beringea. Investors that contributed to Poq’s seed fund, including Seedcamp and Venrex, were also involved.
Poq raises $4m in investment
Software-as-a-service provider Poq works with retailers to make successful and effective shopping apps. Cleverly, it mixes in-store and in-app data together, providing greater insight into customer behaviour, allowing developers to target the right opportunities.
Oyvind Henrikson, co-founder and CEO at Poq, said:
“The app economy is the world’s fastest growing economy. Our platform is no exception, having already hit £100m in app revenue and growing 600% year-on-year. Our mission is to drive more revenue through our platform than previous-generation web-based commerce platforms, through more advanced native app technology. Apps provide the best shopping experience on mobile, where customers are logged in forever and can pay with a fingerprint, and retailers who don’t offer apps will lose out to those who do. We are really excited about closing this funding round and continuing to lead the app commerce revolution.”
With the new investment, Poq wants to launch its service outside Europe, and to triple the size of its development team. It already works with some big-name retailers, including House of Fraser and Liberty, and has recently also signed up made.com and Holland & Barrett.
Learn more about Poq’s service and platform by visiting its website here.